Cognizant records 18.5 billion dollar revenue, 33k grads hired last year

IT company Cognizant on Thursday posted over 10 per cent growth in its full-year 2021 revenue at $18.5 bn, as it returned to double-digit annual revenue growth for the first time since 2015. The Nasdaq-listed company added a record 33,000 new college graduate hires in India in 2021.

Its revenue stood at $16.7 bn in 2020, as per a release. Cognizant has given a full-year 2022 revenue growth outlook of 8.5 per cent to 11.5 pc in constant currency terms. The first quarter revenue outlook for 2022 is projected at 10.2-11.2 pc in constant currency.

Revenue for Q4 2021 rose to $4.8 bn from $4.2 bn in the year-ago period.

Cognizant CEO, Brian Humphries said “we enter 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity”.

Cognizant has plans to hire 50,000 freshers from India in this calendar year unlike in the past when it relied on lateral recruitment to scale up its growth.