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Cognizant posts strong third quarter.

New Jersey: Cognizant Technology Solutions Corporation has posted third quarter revenue of $1.601 billion, up 31.6% from $1.217 billion in the third quarter of 2010.

Net income in the period was $227.1 million, up 11%.

"Cognizant has delivered another strong quarter of industry leading revenue growth with operating margins within our target range. Growth during the quarter was again broad-based across our portfolio of industries, services and geographies," said Francisco D'Souza, President and CEO.

"In spite of persistent macro-economic uncertainties, clients throughout the world continue to invest thoughtfully and strategically in their businesses and are directing investments toward building agility to drive the dual mandates of operational efficiency and business transformation. Cognizant's continued investments across multiple service horizons help address these dual mandates and drive superior business value regardless of the economic environment."

The company said it expects fourth quarter 2011 revenue will be at least $1.66 billion.

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