Cognizant Q4 sales tops $2 billion mark, guidance stays at 17%

IT services company Cognizant Technology Solutions posted a higher quarterly profit on a 23 per cent rise in demand from Europe. While spending on services such as consulting is yet to make a recovery, Cognizant is benefiting from growing outsourcing from European companies as instability in the region forces them to restructure and cut costs. Net income rose to $284.2 million, or 93 cents per share, in the first quarter, fro...