Cognizant predicts 8% to 11% constant currency revenue growth in 2022-24

US-based IT company Cognizant said it expects revenue to grow 8-11% in annual constant currencies over the 2022-24 period.

Discussing its growth strategy and outlook during an investor briefing, Cognizant said it expects to experience constant currency income growth of 8-11% annually during 2022-2024 and an increase in the annual operating margin of 20 to 40 basis points.

Cognizant expects to end 2021 with revenue of $ 18.5 billion. He said organic revenue is expected to generate over 75% of growth in 2022-24, and revenue growth in 2022 is expected to be towards the high end of the multi-year outlook.

“We continue to make great strides in positioning the business for sustained revenue growth and margin expansion,” said Brian Humphries, CEO of Cognizant.

By executing a growth strategy, which includes strengthening the digital portfolio, partnerships and business engine, while investing in a global distribution network, people and capabilities, Cognizant can help clients with their most strategic initiatives while along their journey of transformation, he added.

“I am excited about the global opportunities that present themselves to accelerate our growth, increase our margins and deliver long-term added value for shareholders,” he said.

It has invested $ 2.5 billion in digital M&A acquisitions since 2019.

As part of the event, CFO Jan Siegmund shared additional details on Cognizant’s updated financial framework and capital deployment priorities, including that 50% of free cash flow should be spent on acquisitions. strategic, 25% to share buybacks and 25% to dividends.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

Source link

About Ruben V. Albin

Check Also

Qatar – Banks remind customers to exchange old currency

(MENAFN- The peninsula) Sachin Kumar | By Sachin Kumar | The peninsula Doha: If you …