Infosys posts strong Q4 results, beats expectations

Infosys Ltd. reported a 9.2% growth in revenues to $2.8 billion in its fourth quarter of 2018 compared to last year. Net profits grew 5.3% year-over-year to $571 million and earnings per share came in at $0.26. Both revenue and EPS topped market estimates.

Revenues grew 7.2% year-over-year to $10 billion for the fiscal year 2018, while net profit grew 16.2% to $2.4 billion. The company won total contract value deals of $3 billion during this period.

For the fiscal year 2019, Infosys expects revenues to grow 7-9% in dollar terms and 6-8% in constant currency.

The company’s board of directors recommended a dividend of $0.31 per ADR, which amounts to $821 million including DDT. The board also intends to pay back $2 billion to its shareholders over 2018 and 2019.

The Bengaluru, India-based IT firm also said that it has entered into an agreement to acquire WongDoody Holding Company Inc., a digital creative and consumer insights agency based in the US, for about $75 million.

Apart from this, the software services vendor announced plans to sell its subsidiaries Kallidus, Skava and Panaya, collectively known as the disposal group, and expects the sale to be completed by March next year.