Cognizant Technology Solutions, a leading provider of information technology, consulting, and business process outsourcing services, issued solid financials for the third quarter of 2015. Revenues grew 23.5% y-o-y to $3.19 bn and surpassed consensus estimate of $3.16 bn. The Financial services segment revenues (40.3% of total revenues) increased 18.6% to $1.3 bn. Health care revenues (29.5% of revenues) jumped 43.3% and came in at $939.2 mn, and retail/manufacturing/logistics revenues (19% of revenues) rose 13.7% to $606.2 million. Geographically, revenues from North America increased 26.7% and represented 78.8% of total revenues. Europe contributed 16% to revenues (up 7.8%), and the remaining 5% came from the Rest of the World (up 31%). Adjusted operating income climbed 22.7% to $618 mn, and operating margin was 19.4%, within the company's target range of 19-20%. Adjusted earnings per share increased 15.1% to 76 cents and topped analysts’ average projection of 70 cents. Solid Q2 performance allowed Cognizant to raise its full year-2015 guidance. The company now expects revenues to be $12.41 bn (up from $12.33 bn provided earlier), representing 21% growth over 2014. Adjusted earnings are forecast to be around $3.03 per share compared with the earlier projection of $3.00. My outlook for Cognizant remains optimistic. The company is expected to continue to benefit from strong demand for high quality, lower cost technology services. Based on its global delivery model and expanding capacity in low-cost areas, Cognizant remains well-positioned in the outsourcing market. Companies worldwide continue to shift spending toward investments that drive innovation and growth in the digital era, and Cognizant’s strong portfolio of services and expertise will allow the company to demonstrate solid financials going forward, I believe. Recently, Cognizant's shares rebounded from the lower line of an ascending channel and may reach a $75 mark in short term.