Cognizant Technology beats Q2 top and bottom line estimates; initiates Q3 and reaffirms FY23 outlook
Cognizant Technology press release (NASDAQ:CTSH): Q2 Non-GAAP EPS of $1.10  beats by $0.11.
Revenue of $4.9B (-0.4% Y/Y)  beats by $60M.
Q2 bookings growth of 17% year-over-year; record trailing 12-month bookings of $26.4 billion.
Year-to-date operating cash flow of $765 million and free cash flow of $599 million.


Reaffirms full-year 2023 revenue growth and Adjusted Operating Margin guidance: 
Third quarter revenue is expected to be $4.89 - $4.94 billion, growth of 0.6% to 1.6%, or a decline of 0.5% to growth of 0.5% in constant currency.
Full-year 2023 revenue is expected to be $19.2 - $19.6 billion vs. consensus of $19.45B, or a decline of 0.9% to growth of 1.1%, or a decline of 1.0% to growth of 1.0% in constant currency.
Full-year 2023 Adjusted Operating Margin is expected to be in the range of 14.2% to 14.7%.
Full-year 2023 Adjusted EPS is expected to be in the range of $4.25 to $4.48 vs. consensus of $4.28.