Higher European demand boosts Cognizant revenue

(Reuters) - Cognizant Technology Solutions Corp forecast current-quarter revenue above market expectations after an 18 percent rise in the first quarter, helped by strong demand from Europe. The IT service provider is also benefiting from an increase in demand from its global banking customers, who have stepped up spending to comply with stricter regulations. "We are now three quarters into pretty good growth in the banking sector, and we expect to continue to see that growth throughout the year," Chief Financial Officer Karen McLoughlin told Reuters. ...



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