Quarterly ResultJul 29, 2026, 09:12 AM
Cognizant Q2 Revenue $5.48B, EPS $1.36; Acquires 3Cloud & Astreya
AI Summary
Cognizant Technology Solutions reported Q2 2026 revenue of $5.48 billion, a 4.5% increase year-over-year, and diluted EPS of $1.36, up 3.8%. Net income for the quarter decreased slightly to $636 million. The company completed two significant acquisitions: 3Cloud for $733 million and Astreya Partners, Inc. for $665 million. Additionally, Cognizant initiated "Project Leap," a restructuring program aimed at streamlining operations and enhancing productivity through AI-led efficiencies, incurring $84 million in charges during the quarter.
Key Highlights
- Acquired 3Cloud for $733M cash on Jan 1, 2026.
- Acquired Astreya Partners, Inc. for $665M on June 22, 2026.
- Initiated "Project Leap" restructuring, incurring $84M charges in Q2 2026.
- Q2 2026 Revenue rose 4.5% YoY to $5.48 billion.
- Q2 2026 Diluted EPS increased 3.8% YoY to $1.36.
- Q2 2026 Net income was $636M, down 1.4% YoY.
- Repurchased $500M common stock (9.7M shares) via May 2026 ASR.
- Borrowed $1,000M under revolving credit facility in Q2 2026.
Price Impact
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