Cognizant Q1 revenue climbs 5.8% to $5.4B, launches Project Leap
Cognizant just reported its Q1 2026 results: net profit dipped ever so slightly to $662 million, but revenue actually jumped 5.8% to $5.4 billion, beating its own forecasts.
The company also rolled out Project Leap, aiming to streamline its workforce with AI tools (though this comes with projected severance costs of up to $320 million).
Cognizant to hire over 20,000 freshers
Looking ahead, Cognizant plans to hire over 20,000 freshers in 2026 and entered a definitive agreement to purchase Astreya for about $600 million to boost its AI game.
It's sticking with its full-year revenue target (up to $22.64 billion), with financial services driving most of the growth, up 10% year over year.
For Q2, it expects revenues between $5.45 and $5.52 billion as it keeps expanding across sectors.