Cognizant reported strong Q1 2025 results, with revenue rising 7.5% year-over-year to $5.1 billion (8.2% in constant currency), above guidance.

GAAP operating margin was 16.7% and adjusted operating margin was 15.5%, up 210 and 40 basis points, respectively. GAAP EPS rose 22% to $1.34, and adjusted EPS increased 10% to $1.23. Trailing 12-month bookings reached $26.7 billion. The company returned $364 million to shareholders and reaffirmed its 2025 revenue and margin guidance. Growth was led by the Products and Resources segment (+12.8%) and North America (+9.5%), with significant contributions from recent acquisitions.