Quarterly ResultApr 29, 2026, 06:52 AM
CTSH Q1 Revenue $5.4B, Adj EPS $1.40; Project Leap Announced
AI Summary
Cognizant reported strong first quarter 2026 results with revenue of $5.4 billion, up 5.8% year-over-year, and adjusted EPS of $1.40, a 13.8% increase. The company also announced "Project Leap," a restructuring program expected to generate $200M-$300M in-year savings and incur $230M-$320M in costs. This initiative led to an increased full-year 2026 adjusted operating margin guidance, alongside robust bookings growth and strategic AI partnerships.
Key Highlights
- CTSH launched "Project Leap" to accelerate transformation, expecting $200M-$300M in-year savings and $230M-$320M in costs.
- Q1 2026 revenue grew 5.8% YoY to $5.4 billion (3.9% CC).
- Q1 2026 Adjusted EPS increased 13.8% YoY to $1.40.
- Trailing 12-month bookings rose 11% YoY to $29.6 billion; Q1 bookings increased 21% YoY.
- Full-year 2026 Adjusted Operating Margin guidance raised to 16.0%-16.2% (20-40 bps expansion).
- Financial Services revenue grew 12.4% YoY (10.2% CC).
- Repurchased $427 million in shares and declared a $0.33 per share dividend.