IT services giant Cognizant Technology Solutions Corp. (NASDAQ: CTSH) reported third-quarter revenue fell 0.2% year over year in constant currency to $4.90 billion. Revenue was within guidance.
The company had 346,600 employees in the third quarter, up sightly from the 345,600 in the second quarter.
“We strengthened the company’s fundamentals during the third quarter as reflected in higher customer satisfaction scores, significantly lower voluntary attrition, and continued growth in bookings, despite ongoing economic uncertainty,” Cognizant CEO Ravi Kumar S. said in a press release.
Bookings grew by 9% year over year in the third quarter.
Click chart to enlarge.
Cognizant forecast fourth-quarter revenue growth to range between 0.3 % and 3.1%, which would represent an increase of between 0.3% and 3.1% in constant currency.
Full-year revenue is now expected to range from down 0.7% to flat both as reported and in constant currency.
Shares in Cognizant were down 3.73% to $62.54 as of 11:53 a.m. Eastern time; they were 13.98% below their 52-week high, according to FT.com.