Nirmal Bang: Cognizant - Order Inflow Strong; BFSI Growth Still An Issue
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Nirmal Bang Report
Cognizant Technology Solutions Corp.’s reaffirmed 2020 revenue guidance at the high end of its previously guided range (a decline of 2%-0.5% in constant currency terms).
For 2020, it expects revenue decline of approximately 0.4% YoY in CC and 0.5% in reported terms to ~$16.7 billion.
This includes negative impact of ~110 basis points from exit from content services business and a positive contribution ~200 basis points from mergers and acquisitions .
Q4 CY2020 revenue guidance assumes negative impact from lower bill days versus Q3 and furloughs.
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