Cognizant Technology on Wednesday raised its annual adjusted profit forecast after recording strong growth in its financial services business and continued operating margin expansion in the second quarter, even as enterprises remained cautious about discretionary spending. Shares of the company were up 10%.
Cognizant now expects adjusted profit per share for the year in the range of $5.70 to $5.82, up from its prior forecast of $5.63 to $5.77.
