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Stock impact report

India's TCS beats fourth quarter view as North America holds up [Yahoo! Finance]

Infosys Limited American Depositary Shares (INFY) 
Last infosys limited american depositary shares earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: infosys.com/investors
Company Research Source: Yahoo! Finance
quarter on Thursday, helped by strength in its North ?American market and a falling domestic currency. Sales for the quarter rose 9.7% to 706.98 ?billion rupees ($7.63 billion), while net profit was up 12.2% to 137.18 billion rupees ($1.48 billion). Analysts, on average, were expecting sales of 694.94 billion rupees and net profit of 136.46 billion rupees, as per data compiled ?by LSEG. The company is ?the first major Indian IT company to report fourth-quarter results. Rivals Infosys and HCLTech are set to report ?later this month. Software services firms bill in foreign currencies but incur most costs in rupees, benefiting when dollar earnings are converted. Revenue from its ?North American ?market, from which the company derives ?nearly half of its revenue, ?grew by 2.5%. "While the macroeconomic headwinds continue, we see sustained customer conviction in technology investments, which positions us well for the opportunities ahead," chief executive K Krithivasan said in a Show less Read more
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