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Healthcare business helps Cognizant beat revenue estimates

2015-05-04 16:33:03| IT Services - Topix.net

IT service provider Cognizant Technology Solutions Corp reported a better-than-expected 20 percent jump in quarterly revenue, helped by higher spending by healthcare and financial service clients in North America. Revenue in the healthcare business, which accounts for nearly a third of Cognizant's total revenue, soared about 43 percent to $879.1 million in the first quarter ended March 31. Growth in the business picked up in the fourth quarter, helping assuage concerns about spending by clients such as insurers, hospitals and state-run exchanges set up under the U.S. Affordable Care Act, or Obamacare.

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