Tech outsourcers Cognizant beat profit estimates for the first quarter of the year as its income was boosted by an increase in IT spending across Europe.
The firm saw a record European revenue growth of 35% in January to March 2014 – far exceeding its 22.7% growth in the corresponding quarter last year.
The US-based company took in nearly 20% of its overall revenue from Europe- totalling $470m.
Revenue growth remained static on Cognizant’s native shores, staying at around 16% – the same as last year, reaching $1.84bn.
Net income for the outsourcing firm hit $349m for the quarter, up from $284m the year before.
Overall revenue rose to $2.42bn from $2.02bn.
