Cognizant beats estimates but profit slips slightly and layoffs loom

Revenue beat forecasts, yet management is eyeing job cuts

Cognizant reported Q1 results that topped expectations: revenue rose 5.8% year-on-year to $5.4 billion, and constant-currency growth also beat its own forecast range. Net profit was $663 million, marginally down from a year earlier, though it edged up 2.1% sequentially. Still, the company signaled it is considering layoffs.