India's Infosys misses fourth-quarter revenue estimates [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 reported lower-than-expected fourth-quarter revenue on Thursday, in a seasonally weak period for India's No.2 IT services provider, as cautious clients curtailed spending amid macroeconomic uncertainties. Infosys reported revenue growth of 1.3% on-year at 379.23 billion rupees ($4.54 billion) in the January-March quarter, compared to analysts' expectation of 386.24 billion rupees as per LSEG data. For fiscal year 2025, Infosys forecast revenue growth between 1% and 3% in constant currency. India's $254 billion IT sector has been struggling in recent quarters as clients cut spending on non-essential projects amid inflationary pressures. This has led companies to accept tougher contract terms to win large deals, while grappling with clients renegotiating, delaying or cancelling contracts, resulting in a sharp slowdown in the industry's growth from the pandemic-fuelled boom a few years back. Infosys' consolidated profit rose 30% to 79.69 billion rupees. Tata
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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