I’m grateful to our nearly 350,000 employees for their tremendous year-long work enhancing our strength as industry experts, collaborative partners and passionate innovators for our clients. We delivered Q4 revenue within our guided range and we’ve maintained our commercial momentum. Full-year bookings of $26.3 billion represent an increase of 9% year-over-year, driven by new clients and large deals. To keep advancing our ability to design and deliver solutions, we continue to invest in generative AI, cloud, data modernization, digital engineering and IoT. I believe Cognizant is now in a significantly stronger position than a year ago to help our clients transform their businesses to prepare for the future as they navigate ongoing macro-economic pressures. FY 2023 Ravi Kumar S | Chief Executive Officer ” Revenue $19.4 billion Reported YoY ê 0.4% Constant Currency YoY ê 0.3% GAAP Operating Margin | 13.9% GAAP EPS | $4.21 $14.3$3.8 $1.3 Rest of World 6.6% Revenue by Geography ($ In billions) Reported YoY | Constant Currency YoY Cash Flow Cash Flow From Operations $2,330M Free Cash Flow $2,013M Capital Return FY 2023 Dividend $591M FY 2023 Share Repurchases $1,064M $1.16/share Revenue by Segment ($ In billions) Reported YoY | Constant Currency YoY Europe North America 2.6% $5.8 $5.7$4.6 $3.3 Products & Resources Health Sciences Financial Services Communications, Media & Technology 5.2 % 3.9% 1.2% 1.1% 2.6% 3.1% 1.4% 1.5% 4.3% 4.2% 0.8% 0.5% ” For non-GAAP financial reconciliations refer to Cognizant's 2023 fourth quarter earnings release issued on February 6, 2024, which accompanies this presentation and is available at investors.cognizant.com. é é é é é é é é é é é é é é Adjusted Diluted EPS | $4.55 Cognizant / Oxford Economics Impact Study on GenAI Adjusted Operating Margin | 15.1% Exhibit 99.2
Fourth quarter’s sequential improvement in adjusted operating margin to 16.1% reflects our ongoing operational rigor and our NextGen cost optimization program, which have enabled us to exceed our margin commitment and continue to invest in our strategy to improve future revenue growth. We were also pleased to deliver full-year free cash flow of $2 billion, which represented 95% of net income. We remain committed to adjusted operating margin expansion of 20 to 40 basis points in 2024 and to our balanced capital allocation framework, which includes share repurchases, inorganic investments to support our strategic priorities, and today’s announced dividend increase. Q4 2023 Jatin Dalal | Chief Financial Officer ” Revenue $4.8 billion Reported YoY ê 1.7% Constant Currency YoY ê 2.4% GAAP Operating Margin | 15.2% GAAP EPS | $1.11 $3.5$1.0 $0.3 Rest of World 9.9% Revenue by Geography ($ In billions) Reported YoY | Constant Currency YoY Q4 2023 Cash Flow Cash Flow From Operations $737M Free Cash Flow $659M Q4 2023 Capital Return Dividends $146M Share Repurchases $313M $0.29/share Revenue by Segment ($ In billions) Reported YoY | Constant Currency YoY Europe North America 7.9% $1.4 $1.4$1.2 $0.8 Products & Resources Health Sciences Financial Services Communications, Media & Technology 1.3% 3.4% 1.6% 1.7% 2.6% 2.0% 1.3% 0.3% 5.8% 6.6% 2.1% 2.7% Total Employees 347,700 ” For non-GAAP financial reconciliations refer to Cognizant's 2023 fourth quarter earnings release issued on February 6, 2024, which accompanies this presentation and is available at investors.cognizant.com. +1,100 QoQ (7,600) YoY Voluntary - Tech Services Attrition (Trailing 12-Month) 13.8% é é é é é é é é é é é Adjusted Diluted EPS | $1.18 Employee Metrics Down 12 pts. YoY Adjusted Operating Margin | 16.1% é é é é Acquisition Announced Elite ServiceNow Partner specializing in advisory, implementation and optimization solutions
