Short answer
Cognizant (CTSH) filed its Q1 2026 10-Q quarterly report on Apr 29, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $5.4B (up 5.8% year over year) with net income of $662M.
Q1 2026 key financials · XBRL
- Revenue
- $5.4B
- +5.8% YoY
- Net income
- $662M
- −0.2% YoY
- Operating margin
- 15.6%
- EPS (diluted)
- $1.39
- +3.7% YoY
Source: XBRL data from the Cognizant (CTSH) Q1 2026 10-Q on SEC EDGAR. USD.
Cognizant Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $5,413M, up $298M or 5.8% YoY, with constant-currency growth of 3.9%
- GAAP operating margin 15.6% vs 16.7% YoY; adjusted margin 15.6% vs 15.5%
- Best segment Financial Services, revenue up $182M or 12.4%; weakest Health Sciences, up $8M or 0.5%
- Cash $1,517M; operating cash flow $274M vs $400M YoY, while investing outflows reached $806M after the 3Cloud acquisition
- Project Leap costs $230M–$320M in 2026, targeting in-year savings of $200M–$300M amid macroeconomic, tariff and AI-disruption risks
Risk Factors
- New Project Leap risk, triggered by Q2 2026 launch and associated headcount reductions
- Operational disruption risk, including institutional-knowledge loss and employee retention challenges
- Cost-overrun risk, with projected Project Leap charges of $230 million to $320 million
- Regulatory compliance risk, with position eliminations subject to local laws and consultation requirements
- Financial risk, with $1.491 billion remaining under the stock-repurchase authorization as of March 31, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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