Cognizant, a Nasdaq-listed IT and outsourcing firm, reported a 7% increase in net profit to $558 million for the December quarter, up from $521 million a year ago. The company’s revenue, however, declined 2.4% in constant currency to $4.75 billion. Cognizant’s focus on the communications, media, and technology verticals contributed to growth, with revenue in these areas increasing by 2.6% year-on-year in constant currency. The company’s CEO, Ravi Kumar S, highlighted investments in generative AI (GenAI), cloud, data modernization, digital engineering, and IoT. Cognizant’s 2024 revenue is projected to be in the range of $19 to $19.8 billion, indicating a decline of 2% to a growth of 2% in constant currency.