Form 10-Q · Quarterly report
Cognizant 10-Q, filed Jul 29, 2026
- Filed
- CIK
- 0001058290
- Accession no.
- 0001058290-26-000031
Summary
Cognizant reported second-quarter 2026 revenue of $5.48 billion, up 4.5% year over year, and diluted EPS of $1.36, while initiating Project Leap, a restructuring and investment program that incurred $84 million in costs during the quarter. The company also repurchased $1.15 billion of stock, completed the $634 million acquisition of Astreya, borrowed $1.0 billion under its revolving credit facility, and recorded an $81 million benefit from reversing part of a 2019 India Defined Contribution Obligation liability.
Key points
- Q2 2026 revenue rose 4.5% to $5,481 million, GAAP operating margin was 15.9%, and diluted EPS was $1.36.
- Project Leap is expected to incur total costs of $230 million to $320 million, substantially all in 2026, and generate in-year savings of approximately $200 million to $300 million.
- Cognizant repurchased $1,153 million of Class A common stock in Q2 2026 and borrowed $1,000 million under its revolving credit facility.
- Cognizant completed its acquisition of Astreya for $634 million and ended Q2 2026 with approximately 356,700 employees.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Executive Summary Cognizant is one of the world’s leading professional services companies, engineering modern businesses and delivering strategic outcomes for our clients. We help clients modernize technology, reimagine processes and transform experiences so they can stay ahead in today's fast-changing world, where AI is reshaping organizations in every field. As an AI builder, we provide deep expertise at the intersection of industry and technology, combining our perspective with extensive knowledge of our clients' organizations to build industry-specific platforms and incorporate context into systems, AI models and custom solutions. …
An excerpt of the text as filed with the SEC, cut for length.
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