Cognizant's second quarter revenue met expectations driven by 12% growth in Financial Services, though bookings momentum slowed.

Cognizant reported second quarter 2026 revenue of $5.48 billion, an increase of 4.5% year-over-year (4.1% in constant currency), and an adjusted EPS of $1.37.

Key Highlights

• The Financial Services segment, the company's largest, reported strong revenue growth of 12.0% year-over-year to $1.73 billion.
• Trailing 12-month bookings grew 5% year-over-year to $29.1 billion, representing a book-to-bill ratio of 1.3x, though quarterly bookings declined 6% year-over-year.
• Adjusted operating margin expanded by 40 basis points year-over-year to 16.0%, and the company maintained its full-year guidance for this metric at 16.0% to 16.2%.
• Cognizant raised its full-year 2026 adjusted EPS guidance to a range of $5.70 to $5.82, representing 8% to 10% growth year-over-year.