Cognizant beats Wipro
By Bala Shah

Indian tech major Cognizant, with revenue of $1.485 Billion in its Second Quarter 2011, has overtaken Wipro in terms of Revenue earned.

Other highlights of the Second Quarter 2011

- Quarterly revenue rose to $1.485 billion, up 34.4% from the year-ago quarter and 8.3% sequentially.
- Quarterly diluted EPS on a GAAP basis was $0.67, compared to $0.56 in the year-ago quarter.
- Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $0.72, compared to $0.59 in the year-ago quarter.
- Net headcount addition for the quarter exceeded 7,100.

"We continue to see stronger than anticipated demand for our increasing range of services across the industries we serve. Over this past year, we have seen clients seeking our services not just to drive operational efficiencies, but also to transform their businesses to adapt to next generation technologies and to a new generation of 'born digital' workers and consumers," said Francisco D'Souza, President and CEO. "We believe that our ability to attract the world's best talent and our unique global delivery model infused with deep consulting and domain expertise are among the reasons why we see continued demand for our services that deliver both top-line and bottom-line value to our clients, and continued industry-leading growth for Cognizant."