Cognizant trimmed its FY26 revenue growth to 4–4.4% after a 7% YoY slide in Q3 bookings, a move that nudged the upper end of its guidance down by 110 basis points.
The September quarter saw revenue rise 4.6% to $5.66 billion, or 4.8% in constant currency, topping the Wall Street consensus of $5.65 billion and exceeding the midpoint of the company’s own guidance range.
Operating margin slipped 60 basis points from a year earlier to 15.4%, though adjusted operating margin gained 30 basis points to 16.3%. GAAP diluted EPS surged 148% to $1.39, while adjusted EPS rose 7.2% to $1.49.
In December, Cognizant forecasts revenue of $5.49–$5.57 billion, equating to constant‑currency growth of 3.2–4.7%. The company’s stock slid 8.65% in pre‑market trading on the Nasdaq, closing at $60.62.
Trailing 12‑month bookings climbed 4% to $28.7 billion, with a book‑to‑bill ratio of roughly 1.3. Three deals over $100 million were signed in Q3, and voluntary attrition eased to 12.6%. Analysts now see a cautious path ahead, weighing the softer booking trajectory against the firm’s margin resilience.