Revenue: As of FY2026 Q2, the actual value is USD 5.481 B, beating the estimate of USD 5.481 B.

EPS: As of FY2026 Q2, the actual value is USD 1.36, beating the estimate of USD 1.3093.

EBIT: As of FY2026 Q2, the actual value is USD 879 M.

Second Quarter 2026 Financial Highlights

Revenue

Cognizant Technology Solutions Corporation reported total revenue of $5,481 million for Q2 2026, marking an increase of 4.5% year-over-year, or 4.1% in constant currency. Total revenue was also noted as $5.5 billion for Q2 2026, representing a 4.5% year-over-year increase on a reported basis and a 4.1% increase on a constant currency basis.

Segment Revenue (Q2 2026)

• Financial Services: Revenue was $1,733 million, showing 12.0% year-over-year growth (11.7% in constant currency).
• Health Sciences: Revenue reached $1,572 million, with 1.4% year-over-year growth (1.0% in constant currency). Another source indicated Health Sciences revenue as $1.3 billion, showing 1.4% reported year-over-year growth and 1.0% constant currency growth.
• Products and Resources: Revenue was $1,322 million, with 1.2% year-over-year growth (0.7% in constant currency). Separately, Products & Resources revenue was reported as $1.6 billion, reflecting 5.5% reported year-over-year growth and 5.5% constant currency growth.
• Communications, Media and Technology: Revenue was $854 million, with 1.5% year-over-year growth (1.4% in constant currency).

Geographic Revenue (Q2 2026)

• North America: Revenue was $4,127 million, with 5.5% year-over-year growth (5.5% in constant currency).
• Europe (Total): Revenue was $1,027 million, with 2.5% year-over-year growth (0.8% in constant currency), including the United Kingdom at $492 million and Continental Europe at $535 million.
• Rest of World: Revenue was $327 million, with -1.2% year-over-year growth (-1.5% in constant currency).

Operating Metrics

GAAP Operating Margin was 15.9%, increasing 30 basis points year-over-year. Adjusted Operating Margin was 16.0%, up 40 basis points year-over-year. Income from operations for the quarter was $874 million. Net income was $636 million.

Operating expenses included cost of revenues of $3,652 million, selling, general and administrative expenses of $728 million, restructuring charges of $84 million, and depreciation and amortization expense of $143 million.

Cash Flow

Net cash provided by operating activities for the second quarter was $558 million. Free cash flow for the quarter was $459 million.

Bookings

Trailing 12-month bookings increased 5% year-over-year to $29.1 billion, representing a book-to-bill ratio of approximately 1.3x. Second quarter bookings declined 6% year-over-year and included seven large deals, each with a total contract value of $100 million or greater.

Capital Allocation

During the second quarter, Cognizant Technology Solutions Corporation repurchased 22.5 million shares for $1,153 million. As of June 30, 2026, $2.3 billion remained under the share repurchase authorization. A quarterly cash dividend of $0.33 per share was declared in July 2026, totaling $157 million for dividends. The company completed the acquisition of Astreya for $634 million, net of cash acquired, and borrowed $1.0 billion under its revolving credit facility.

Employee Metrics

Total headcount as of June 30, 2026, was 356,700, reflecting a decrease of 900 from March 31, 2026, but an increase of 12,900 from June 30, 2025. The trailing 12-month voluntary attrition for Tech Services was 13.0% for the period ended June 30, 2026.

Outlook / Guidance

Cognizant Technology Solutions Corporation revised its 2026 constant currency revenue growth guidance to 4.0% to 5.5% year-over-year, with total revenue expected to be $22.04 billion to $22.35 billion. The 2026 Adjusted Operating Margin guidance remains unchanged at 16.0% to 16.2%, representing a 20 to 40 basis points expansion year-over-year. The Adjusted Diluted EPS guidance for 2026 is increased to $5.70 to $5.82, projecting an 8% to 10% year-over-year growth.