Cognizant beats quarterly earnings estimates on lower costs
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(Reuters) - Cognizant Technology Solutions Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, as a trim in its workforce reduced costs, sending shares up about 4%. The company said in October it would cut jobs to invest in growth areas such as cloud and internet of things to cushion the impact from a decline in spending by its financial customers, which Cognizant expected to continue through the second half of 2019.Revenue rose 4% to $4.28 billion in the fourth..