TCS Leads in Q2 Profits Among IT Giants
By siliconindia   |   Friday, 21 October 2011, 01:15 IST   |    1 Comments
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Cognizant
Cognizant
Cognizant's better than expected financials in its second quarter of the calendar year 2011 might have changed the pecking order in the Indian IT services space. Revenue for the Q2 of 2011 rose to $1.485 billion, up 34.4 percent from $1.105 billion in the Q2 of 2010. GAAP net income was $208.0 million, or $0.67 per diluted share, compared to $172.2 million, or $0.56 per diluted share, in the second quarter of 2010. Diluted earnings per share on a non-GAAP basis were $0.72. GAAP operating margin for the quarter was 18.2 percent. Excluding stock-based compensation expense of $23.7 million, non-GAAP operating margin was 19.8 percent, within the Company's targeted 19-20 percent range.