Cognizant Q2 2026 growth masks weaker bookings and uneven demand

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.