Exhibit 99.1
 
cognizantlogoa06.jpg
 
 
 
 
Glenpointe Centre West
 
 
 
 
500 Frank W. Burr Blvd.
 
 
 
 
Teaneck, NJ 07666
            

COGNIZANT REPORTS FOURTH QUARTER AND FULL YEAR 2019 RESULTS

Annual revenue of $16.8 billion, up 4.1% (5.2% in constant currency) over 2018
Increases quarterly dividend by 10% to $0.22 per share and share repurchase authorization by $2 billion
 

TEANECK, N.J., February 5, 2020 - Cognizant Technology Solutions Corporation (Nasdaq: CTSH), one of the world’s leading professional services companies, today announced its fourth quarter and full year 2019 financial results.

Highlights - Fourth Quarter 2019

Quarterly revenue increased to $4.3 billion, up 3.8% (4.2% in constant currency1) from the year-ago quarter.
GAAP operating margin was 14.6% compared to 16.8% in the year-ago quarter.
Adjusted Operating Margin1 was 17.0%, flat compared to the year-ago quarter.
Net income was $395 million compared to $648 million in the year-ago quarter.
Quarterly GAAP diluted EPS was $0.72 compared to $1.12 in the year-ago quarter.
Quarterly Adjusted Diluted EPS1 was $1.07 compared to $0.98 in the year-ago quarter.


"Our steady progress against key initiatives is increasingly evident in our commercial and financial performance," said Brian Humphries, Chief Executive Officer. "We enter 2020 with renewed vigor and optimism."


Highlights - Full Year 2019

Revenue increased to $16.8 billion, up 4.1% (5.2% in constant currency) from 2018.
GAAP operating margin was 14.6% compared to 17.4% in 2018.
Adjusted Operating Margin was 16.6% compared to 18.1% in 2018.
Net income was $1.8 billion compared to $2.1 billion in 2018.
GAAP diluted EPS was $3.29 compared to $3.60 in 2018.
Adjusted Diluted EPS was $3.99 compared to $4.02 in 2018.




_______________
1 Constant currency revenue growth, Adjusted Operating Margin and Adjusted Diluted Earnings Per Share ("Adjusted Diluted EPS") are not measurements of financial performance prepared in accordance with GAAP. See “About Non-GAAP Financial Measures” for more information and reconciliations to the most directly comparable GAAP financial measures at the end of this release.



The following information was filed by Cognizant Technology Solutions Corp (CTSH) on Wednesday, February 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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