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Cognizant Misses Q2 Revenue Forecast at $5.45-5.52B, Shares Fall 5% on April 29

2026-04-30 01:01:37

According to Reuters, Cognizant Technology forecast second-quarter revenue of $5.45 billion to $5.52 billion on April 29, below the $5.56 billion analyst estimate. The stock fell about 5% in premarket trading as the company cited cautious client spending and pressure on deal sizes. Cognizant also narrowed its full-year revenue outlook to $22.11 billion to $22.64 billion and announced Project Leap, a restructuring program expected to incur $230 million to $320 million in charges while generating $200 million to $300 million in savings during 2026.

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