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Cognizant Technology Cuts FY22 Outlook

While reporting its results for the third quarter on Wednesday, tech company Cognizant Technology Solutions Corporation (CTSH) lowered its outlook for the full year 2022.

Looking forward, the company now expects revenue to be about $19.3 billion, or growth of 4.5%, and adjusted earnings of $4.43 to $4.46 per share.

Previously, the company expected full-year revenues of $19.7 billion to $19.9 billion, or growth of 6.3%-7.3%, and adjusted earnings of $4.51 to $4.57 per share.

Analysts polled by Thomson Reuters currently expect earnings of $4.53 per share and revenues of $19.81 billion. Analysts' estimates typically exclude one-time items.

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