Cognizant profit jumps 86.5 percent on lower income tax

Reuters News
Posted: Aug 03, 2017 6:17 AM

(Reuters) - IT services provider Cognizant Technology Solutions Corp reported an 86.5 percent jump in quarterly profit, benefiting from lower income tax compared with the year-ago period.

The company's net income rose to $470 million, or 80 cents per share, from $252 million, or 41 cents per share, a year earlier.

Revenue rose nearly 9 percent to $3.67 billion.

The company said it took an income tax expense of $190 million in the year-ago period.

(Reporting by Rishika Sadam in Bengaluru; Editing by Arun Koyyur)