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Cognizant revenue forecast weak on subdued discretionary spending
Cognizant has revised its revenue forecast for the fiscal year, following similar moves by Infosys and HCL. The company now expects its 2023 revenue to be in the range of $19.3 billion to $19.4 billion, a decline of 0.7% to flat. The guidance takes into account recent discretionary spending pressure. For the December quarter, Cognizant anticipates revenue between $4.6 billion and $4.8 billion, a decline of 4% to 1.2% in constant currency. The company's September quarter revenue grew by just 0.2%.
Cognizant has revised its revenue forecast for the fiscal year, following similar moves by Infosys and HCL. The company now expects its 2023 revenue to be in the range of $19.3 billion to $19.4 billion, a decline of 0.7% to flat. The guidance takes into account recent discretionary spending pressure. For the December quarter, Cognizant anticipates revenue between $4.6 billion and $4.8 billion, a decline of 4% to 1.2% in constant currency. The company's September quarter revenue grew by just 0.2%. 
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