UPDATE 1-Cognizant beats quarterly earnings estimates on lower costs

(Adds Q4 revenue, share movement)

Feb 5 (Reuters) - Cognizant Technology Solutions Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, as a trim in its workforce reduced costs, sending shares up about 4%.

The company said in October it would cut jobs to invest in growth areas such as cloud and internet of things to cushion the impact from a decline in spending by its financial customers, which Cognizant expected to continue through the second half of 2019.

Revenue rose 4% to $4.28 billion in the fourth quarter from a year ago, above analysts' average estimate of $4.23 billion, according to IBES data from Refinitiv.

Net income fell 39% to $395 million.

Excluding items, the company earned $1.07 per share, above estimates of $1.04 per share. (Reporting by Amal S in Bengaluru; Editing by Shinjini Ganguli)