Cognizant Technology Solutions Corp., expects this year’s revenue to grow from 8.5-11.5 percent in constant currency to $20.0-20.5 billion to mark highest-ever annual revenue outlook, according to the reports.

The company dispatched a 14.5 percent rise in revenue in constant currency from a year-ago period to $4.8 billion for the fourth quarter ended December being its highest-ever quarterly revenue.

Besides for the December quarter, Tata Consultancy Services Ltd.’s (TCS) dollar revenue grew 15.4 percent annually in constant currency to $ 6.52 billion, while that of Infosys Ltd. grew 21.5 percent to $4.25 billion.

Last year, Cognizant reported a 10 percent year-on-year growth in revenue to $18.5 billion, marking the company’s return to double-digit annual revenue growth for the first time since 2015.
The company’s digital revenue grew 20 percent annually and contributed 45 percent to the total revenues for the December quarter as digital bookings continued to grow. Firm continues to focus on its priority areas of digital engineering, artificial intelligence (AI) and analytics, cloud, and Internet of Things (IoT).

Brian Humphries, CEO, Cognizant says, “I am proud of Cognizant’s broad-based progress over the past year. We successfully executed our strategy by meaningfully enhancing our digital portfolio, strengthening our international presence, and helping our clients be successful. We enter 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity.”

Reports suggest that, revenue from financial services grew 18.8 percent in constant currency from a year-ago that included a positive 900 basis points impact from its acquisition of Samlink and the benefit of recently completed acquisitions. Both banking and insurance growth improved, driven by demand for digital services. This was partially offset by clients' continued focus on cost optimization of supporting their legacy systems and operations.

According to the reports, demand of manufacturing, logistics, energy and utility clients remained strong and we have seen sustained demand last year across retail, consumer goods, travel, and hospitality following the negative impact from the pandemic in 2020.