February 7, 2018 / 11:08 AM / 2 months ago

Cognizant's revenue rises 10.6 percent in fourth quarter

Feb 7 (Reuters) - IT services firm Cognizant Technology Solutions Corp’s revenue rose 10.6 percent in the fourth quarter as healthcare and financial clients increased spending.

The company said on Wednesday it recorded a net loss of $18 million or 3 cents per share in the quarter ended Dec. 31, compared to a net income of $416 million or 68 cents per share, a year earlier.

Cognizant’s 2017 results included a one-time expense of $617 million because of new U.S. tax laws.

Revenue rose to $3.83 billion from $3.46 billion. (Reporting by Arjun Panchadar in Bengaluru; Editing by Sai Sachin Ravikumar)

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