Cognizant Technology Solutions Corporation Class A (NASDAQ:CTSH) reported Q2 revenue of $5.481B and GAAP net income $636M as adjusted EPS slightly missed, while landing a five-year Andover deal to modernize systems and leaning into AI with 8,000+ engagements and large hiring/certification plans.
Previous Week Recap
- CTSH Q2 GAAP Income, Revenue Beat/Miss: CTSH Q2: GAAP net income $636M ($1.36), adjusted EPS $1.37, revenue $5.481B, up 4.5% year-over-year. Revenue met expectations; adjusted EPS slightly missed.
- CTSH Five-Year Deal With The Andover: CTSH won a five-year deal with The Andover Companies to modernize policy admin, build an AWS-native Medallion data platform, boost portal security for NYDFS compliance, and prototype AI use cases.
- CTSH AI Builder Ambitions, Headcount Plan: CTSH says it's an AI builder with 8,000+ AI engagements, plans 5,000 frontier-certified engineers and 10,000 frontier operators, hires ~20,000 this year; headcount flat; Project Leap may cut roles.
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