Emerging markets represent 3.6% of Cognizant's Q2 revenues

- Thursday, August 4, 2011

Emerging markets represent 3.6% of Cognizant's Q2 revenues

Business in the emerging markets of Latin America, the Middle East and Africa accounted for 3.6% of US IT services firm Cognizant's (Nasdaq: CTSH) revenues during the second quarter of 2011, company COO Gordon Coburn said in a conference call with investors.

"We continue to strengthen our geographic delivery footprint, driven in part by continued success with infrastructure services and BPO," said company CEO Francisco D'Souza. "We are adding an additional location in Argentina to meet the growing demand from our clients in both North and South America seeking to leverage this talent pool."

In Latin America, the company has a delivery center in Argentine capital Buenos Aires.

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Cognizant's global revenues totaled US$1.49bn in the second quarter, up 34.4% from US$1.11bn in the same period in 2010.

Meanwhile, the company's net profit was US$208mn in Q2 compared with US$172mn in the year-ago period.

Cognizant expects revenues for Q3 to be at least US$1.57bn.

Fiscal 2011 revenue is expected to be upward of US$6.06bn, or a rise of at least 32% compared to 2010, the company said.

Cognizant is a provider of information technology, consulting and business process outsourcing services. The firm has more than 50 delivery centers worldwide and some 104,000 employees.