Skyline Global Outsourcing Update

Cognizant Technology Solutions outshone its Indian rivals and underlined the superiority of its business model by reporting its strongest ever quarterly performance on Tuesday. Net profit in the April-June period rose 22% to $172.2 million, and revenue surged by $145 million, the strongest increase amongst all IT majors. The Chennai-based firm revised its 2011 guidance upwards, saying that its revenue will now grow by 36%, instead of 25% earlier. The Cognizant scrip jumped nearly 10% to $61.10 on Nasdaq during Tuesday morning trade. The firm is based in the US and derives nearly 60% of its revenue from that market.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).