Cognizant Technology : Reports Fourth Quarter 2020 Results

Exhibit 99.3

Fourth Quarter 2020

Financial Results and Highlights

February 3, 2021

Forward-Looking Statements

This earnings supplement includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to our expectations regarding the impact of the COVID-19 pandemic on our business, opportunities in the marketplace, our cost structure, investment in and growth of our business, our realignment plans, the impact of the 2020 Fit for Growth Plan, the likelihood and potential terms of any settlement of and exit from our referenced large customer engagement in the financial services segment, our and our clients' shift to digital solutions and services and our anticipated financial performance. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, legal, reputational and financial risks resulting from cyberattacks, the effectiveness of business continuity plans during the COVID-19 pandemic, the impact of the COVID-19 pandemic, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K, as updated by our most recent Quarterly Report on Form 10-Q, and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

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Results Summary: Q4 2020

	REVENUE	OPERATING MARGIN
Down -2.3% Y/Y as reported and -3.0% Y/Y constant currency1	Q4 2020 includes -300bps impact from Anticipated Engagement Exit
Q4 2020 includes -250bps impact from the offer made to settle and exit a large
customer engagement2 and -120bps impact from exit of certain content services
$4,284	$4,184	17.0%
		14.6%
		11.1%	12.3%

Q4 2019	Q4 2020	Q4 2019	Q4 2020	Q4 2019	Q4 2020
		GAAP Operating Margin	Adjusted Operating Margin1
DILUTED EARNINGS PER SHARE		CASH FLOW
$0.72	$1.07	$938	$898
	$845
	$0.59	$0.67		$809

Q4 2019	Q4 2020	Q4 2019	Q4 2020	Q4 2019	Q4 2020	Q4 2019	Q4 2020
GAAP Diluted EPS	Adjusted Diluted EPS1	Operating Cash Flow	Free Cash Flow1

• See "About Non-GAAP Financial Measures" at the end of this earnings supplement for more information and reconciliations to the most directly comparable GAAP

financial measures, as applicable.

3 2 Cognizant made an offer in the fourth quarter to settle and exit a large customer engagement in the financial services segment in Continental Europe ("Anticipated Engagement Exit"). As a result of this offer, in the fourth quarter of 2020, we recorded a reduction of revenue of $107 million and additional expenses of $33 million, primarily related to the impairment of long-lived assets.

Results Summary: FY2020

	REVENUE		OPERATING MARGIN
Down -0.8% Y/Y as reported and down -0.7% Y/Y constant currency	2020 includes -80bps impact from Anticipated Engagement Exit
2020 includes -70bps impact from the offer made to settle and exit a large
customer engagement1 and -110bps impact from exit of certain content services
$16,783	$16,652	14.6%	16.6%
		14.4%
			12.7%

2019	2020	2019	2020	2019	2020
		GAAP Operating Margin	Adjusted Operating Margin

DILUTED EARNINGS PER SHARE		CASH FLOW
$3.99		$3,299
$3.42	$2,901
$3.29
$2,499
$2.57
	$2,107

2019	2020	2019	2020	2019	2020	2019	2020
GAAP Diluted EPS	Adjusted Diluted EPS	Operating Cash Flow	Free Cash Flow

• Cognizant made an offer in the fourth quarter to settle and exit a large customer engagement in the financial services segment in Continental Europe ("Anticipated

• Engagement Exit"). The 2020 impact of the Anticipated Engagement Exit was a reduction of revenues of $118 million and additional expenses of $33 million, primarily related to the impairment of long-lived assets.