Cognizant Technology Solutions (CTSH) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year earlier. The trend shows a gradual slowdown from the growth rates seen in earlier quarters.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year earlier. The trend shows a gradual slowdown from the growth rates seen in earlier quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.8B
Revenue reported for this quarter.
Quarter-over-quarter
-0.6%
Change from the immediately preceding quarter.
Year-over-year
-0.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$19.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $4.9B | +7.0% |
| Sep 30, 2022 | $4.9B | +2.4% |
| Dec 31, 2022 | $4.8B | +1.3% |
| Mar 31, 2023 | $4.8B | -0.3% |
Revenue performance
The company reported a lower revenue figure for the period, with a slight decrease from the immediately preceding quarter. On a year-over-year basis, revenue also edged down.
Quarterly comparison
Compared to the previous quarter, revenue contracted marginally. Relative to the same period one year ago, the decline was similarly modest.
What to watch
The sequential revenue trend has turned negative after several quarters of positive growth.