India, July 31 -- Cognizant's second-quarter numbers present a divided picture of its growth trajectory. Revenue rose 4.5% year-on-year to USD 5.48 billion, supported by 12% growth in financial services and improving margins. Yet quarterly bookings declined 6%, growth outside its largest segment remained modest, and the company lowered the upper end of its full-year revenue guidance.

Cognizant reported revenue of USD 5.48 billion for the second quarter (Q2) of 2026, an increase of 4.5% year-on-year and 4.1% in constant currency. Financial services delivered double-digit growth for a second consecutive quarter, but weaker quarterly bookings and narrower full-year guidance pointed to an uneven demand environment.

The company's generally a...