Cognizant Technology Solutions (CTSH) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter was flat compared to the immediately preceding quarter and declined relative to the same quarter one year earlier. The sequential stability followed a prior quarter decline, while the year-over-year decrease continued a pattern of contraction.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter was flat compared to the immediately preceding quarter and declined relative to the same quarter one year earlier. The sequential stability followed a prior quarter decline, while the year-over-year decrease continued a pattern of contraction.
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
+0.0%
Change from the immediately preceding quarter.
Year-over-year
-1.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$19.3B
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, 2023 | $4.9B | -0.4% |
| Sep 30, 2023 | $4.9B | +0.8% |
| Dec 31, 2023 | $4.8B | -1.7% |
| Mar 31, 2024 | $4.8B | -1.1% |
Revenue performance
Reported revenue was unchanged from the prior quarter, ending a sequence of alternating small gains and losses. The year-over-year comparison showed a decline, consistent with the negative trend observed in the prior year's same period.
Quarterly comparison
Compared with the immediately preceding quarter, revenue was essentially flat, following a decline in the prior period. Versus the same quarter one year earlier, revenue was lower, marking a continued year-over-year decrease.
What to watch
The filing context notes a significant cash outflow related to a tax dispute, which may affect liquidity and operating cash flow in future periods.