As pandemic hits business, Cognizant withdraws 2020 guidance

The Hindu Business Line | Apr 9, 2020 at 12:19 PM
  • Cognizant Technology Solutions is withdrawing its 2020 guidance (outlook) that was provided on February 5, given the ‘unprecedented’ nature of the coronavirus crisis, the uncertainty around its duration and its impact on the company’s ability to forecast performance.
  • Cognizant has proactively taken steps to strengthen its financial flexibility, including drawing down $1.74 billion on its revolving credit facility on March 23, 2020, bringing the total cash and investment balance as of March 31 to approximately $4.7 billion.