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Cognizant trims forecast

Teaneck, N.J.: US-based Indian IT services consultancy Cognizant Technology Solutions reported second quarter net income up 23% to $371.9 million on revenue up 16.5% to $2.25 billion ."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%", said Francisco D'Souza, Chief Executive Officer of Cognizant. "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."

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