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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬
• Adj. EPS: $1.49 (Est. $1.46) ✅, +7.2% YoY.
• Revenue: $5.664B (Est. $5.65B) ✅, +4.6% YoY.
• GAAP EPS: $1.39 (vs. $0.56 YoY).
• GAAP Operating Margin: 15.4%, -60 bps YoY.
• Adj. Operating Margin: 16.3%, +30 bps YoY.
• TTM Bookings: $28.7B, +4% YoY.
• Quarterly Bookings: -7% YoY.
• Book-to-Bill: ~1.3x (TTM).
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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞
• Q4 2026 Revenue: $5.49B–$5.57B, midpoint $5.53B (Est. $5.65B) ❌.
• FY2026 Revenue: $22.05B–$22.14B, midpoint $22.10B (Est. $22.20B) ❌.
• FY2026 Adj. EPS: $5.72–$5.79, midpoint $5.76 (Est. $5.76) 🟰.
• FY2026 Adj. Operating Margin: ~16.1%, +30 bps YoY.
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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬
• Q3 Adj. EPS beat consensus by ~2.1%, while revenue exceeded estimates by ~0.2%.
• Financial Services revenue grew 12% YoY.
• Quarterly bookings declined 7%, despite TTM bookings increasing 4% to $28.7B.
• More than 50% of Cognizant's code is now AI-assisted, with over 95,000 AI badges and certifications earned by employees.
• Project Leap targets ~$200M in 2026 savings, with total expected costs of $180M–$250M.
• YTD free cash flow declined to $1.58B from $1.88B.
• Returned $2.3B to shareholders through buybacks and dividends during the first nine months.
• Signed agreement to acquire DyFlex Solutions, expanding SAP and AI capabilities in Australia and New Zealand.
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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲
“The AI market is moving from capability to value realization, requiring enterprises to reimagine how work gets done, build AI into the fabric of the enterprise and create new sources of value.”
