Emerging markets represent 3.7% of Cognizant's Q3 revenues

- Thursday, November 3, 2011

Emerging markets represent 3.7% of Cognizant's Q3 revenues

Business in the emerging markets of Latin America, the Middle East and Africa accounted for 3.7% of US IT services firm Cognizant's (Nasdaq: CTSH) revenues during the third quarter of 2011, COO Gordon Coburn said in a conference call with investors.

In Latin America, Cognizant operates a delivery center in Argentine capital Buenos Aires.

Cognizant's global revenues totaled US$1.60bn in the third quarter, up 31.6% compared to US$1.21bn in the year-ago period. The company's net profit was US$227mn, compared to US$204mn a year ago.

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Cognizant expects Q4 revenues to be at least US$1.66bn. Full 2011 revenue is expected at US$6.11bn, or an at least 33% increase compared to 2010, the company said.

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

Go to this link to access Cognizant's full quarterly results.