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Cognizant withdraws 2020 guidance provided in Feb owing to Covid-19 uncertainty

city New Delhi Usa India covid-19 outbreak 2020 Coronavirus
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New Delhi: IT services major Cognizant on Thursday said it is withdrawing its growth forecast for 2020 given the uncertainty in environment amid the coronavirus outbreak.

The US-based company, which has over two lakh employees in India, said it expects its March quarter revenue to be within its previously guided range of 3.4-3.6 per cent growth (in constant currency) from the year-ago period. "The long-term fundamentals of our business remain strong.

However, given the unprecedented nature of this crisis, uncertainty around its duration and its impact on our ability to forecast performance, the company is withdrawing its 2020 guidance that was provided on February 5, 2020," Cognizant said in a statement.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
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India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
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