IT services company Cognizant Technology Solutions Corp’s quarterly profit modestly beat estimates, boosted by a jump in demand from Europe after quarters of tepid growth in business from the region.
The company adopted a cautious stance, lowering its calendar 2013 guidance for the fourth time to 17% from 20%.
It forecast first-quarter (January-March) earnings of 92 cents per share on revenue of at least $2 billion.
Cognizant, which has said it expects healthcare to grow slower than the company average in 2013, forecast at least $3.95 per share in profit for 2013 and revenue of at least $8.6 billion.
Analysts expected earnings of 93 cents a share, on revenue of $2 billion for the first quarter. For the full year, they were looking for a profit of $4 per share, on revenue of $8.58 billion.