India's Infosys falls as annual revenue outlook disappoints [Reuters]
Infosys Limited American Depositary Shares (INFY)
Last infosys limited american depositary shares earnings: 4/21 04:00 pm
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Source: Reuters
, opens new tab fell as much as 2.9% on Friday, a day after India's No.2 software services exporter forecast annual revenue below expectations, raising doubts over predictions of early recovery in the sector. Its shares were down at 2% at 1,390 rupees by 09:19 a.m. IST, their lowest since Nov. 2023. The stock is down 8% this year, the worst performer among top-tier Indian IT services companies. Larger rival Tata Consultancy Services (TCS.NS) New Tab , opens new tab is up 2.3%, while the Nifty IT services index (.NIFTYIT) New Tab , opens new tab is down 5.7%. Some analysts termed Infosys' quarterly performance and outlook "disappointing." "Results of both TCS and Infosys suggest recovery is likely to be even more modest versus earlier, with sluggish large segments, existing business leakages and weaker discretionary demand hurting," Ambit Capital said in a note. TCS last week reported fourth-quarter revenue below estimates on weak client spending, while analysts said the
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INFY
Earnings
- 4/19/24 - Beat
INFY
Sec Filings
- 4/24/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/2/24 - Form 6-K
- INFY's page on the SEC website