Cognizant forecasts annual revenue above estimates

Cognizant Technology Solutions Corporation Class A +2.11%

Cognizant Technology Solutions Corporation Class A

CTSH

62.54

+2.11%

- Cognizant Technology CTSH.O forecast annual revenue above Wall Street estimates on Wednesday, betting on strong demand for its IT services as businesses adopt artificial intelligence into their workflows.

The company expects its annual revenue to be between $22.14 billion and $22.66 billion, compared with analysts' average estimate of $22.06 billion, according to data compiled by LSEG.