Infosys’s stock dives after another disappointing earnings report

📆 12/10/2023 22.31.00
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IT consultant tops revenue expectations as it sees highest large-deals value at $7.7 billion, but cuts the full-year outlook

Shares of Infosys Ltd. were hit hard Thursday after the India-based information-technology consulting company reported fiscal second-quarter revenue that topped expectations, but trimmed its full-year growth outlook.

Net income for the quarter to Sept. 30 came in at $751 million, or 18 cents a share, compared with $749 million, or 18 cents a share, in the year-ago period, to match the FactSet consensus of 18 cents a share. For the communications sector, Roy said challenges continued amid increasing operating expenditures, inflation risks, high interest rates and supply-demand imbalances. “Delays in decision making continue,” he said.

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