Cognizant raises forecast as discretionary spending returns

By Sruthi Ramakrishnan (Reuters) – Cognizant Technology Solutions Corp reported better-than-expected quarterly results and raised its forecast for the year as clients in North America invest more in IT services and software, encouraged by a steady economic recovery. Companies cut back on discretionary IT spending, delayed deals and signed fewer large contracts for most of last year. But strong quarterly results from Cognizant and its Indian rivals, Tata Consultancy Services Ltd, Infosys Ltd and Wipro Ltd, suggest that corporate technology spending is back. …

via Tech News Headlines – Yahoo! News https://news.yahoo.com/cognizant-raises-forecast-discretionary-spending-returns-155522165.html

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