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Cognizant's quarterly results brought some cheer for the IT sector, still reeling from weak performances by TCS, Infosys and Wipro this quarter. The company topped expectations on the revenue front, raking in over USD 2.9 billion against a company guidance of USD 2.88 billion. Its margins, however, missed the street view. 

Cognizant chief executive officer Francisco D'souza is confident of delivering margins in the 19-20 percent range on a non-GAAP basis. He says the guidance does not factor in any acquisitions. According to him, Congizant saw very strong demand from clients and saw revenue growing 6 percent quarter-on-quarter. He adds that it would have been higher if not for cross currency headwinds.

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