Cognizant’s Q1CY23 result read-across: Competition heating up with CTSH’s renewed focus on large deals under the new CEO
CTSH reported revenue growth of 1.5% YoY CC, above the top end of management guidance (-1% to 0% YoY CC) in Q1CY23. This includes 100bps inorganic contribution. Company reported strong bookings growth of 28% YoY in Q1CY23 with the TTM orderbook at US$ 25.6bn and book-to- bill at 1.3x.