The US-headquartered company has posted a growth of 16.5% in revenue during the quarter, at $2.52 billion as against $2.16 billion in the corresponding quarter of 2013. The GAAP operating margin for the quarter was 19.4% and the Non-GAAP operating margin was 21%, higher than the Company's target range of 19-20%, said the company. Commenting on the full year guidance, Francisco D'Souza, Chief Executive Officer of Cognizant, said, "Due to weakness at certain clients and longer than anticipated sales cycles for certain large integrated deals, we are adopting a more conservative stance for the remainder of the year and revising our 2014 revenue guidance to growth of at least 14% over the prior year, while maintaining our full year non-GAAP EPS guidance of $2.54," "We continue to believe that we have the right strategy and portfolio of services to deliver long-term industry leading growth and also meet the ever changing demands of the market," he added.