UPDATE: Cognizant Posts Higher Q1 Profit

Cognizant Technology Solutions Corp

reported a rise in its first-quarter profit. Cognizant's quarterly net income climbed to $243.7 million, or $0.79 per share, versus $208.3 million, or $0.67 per share, in the year-ago period. Its revenue climbed 25% to $1.71 billion. Cognizant shares closed at $69.66 on Friday.