Cognizant Technology (CTSH) reported a 2.5% q-o-q revenue growth in Q4CY08, marginally ahead of guidance.
CY09 revenue guidance came in at least 10%, above our expectations of around 8%. Q1CY09 revenue growth guidance is down 2.4% sequentially.
Our Infosys Rupee revenue growth estimate for FY10E will likely see another round of estimate cuts ahead of the guidance setting exercise in April. We maintain our NEGATIVE stance on the IT sector.
In this report, we continue our series of introducing metrics tracking macro indicators and upstream members of the tech food chain. We are yet to see any signs of life in our leading indicators.