Infosys Limited (NYSE: INFY) reported its financial results for the quarter ended March 31, 2020 today.
Infosys reported a 1.7% increase in earnings for the fourth quarter of 2020 helped by higher revenue. The majority of the top-line growth came from the financial services segment while the communication segment showed a decline. The company said 93% of its employees are undertaking remote working in countries that are still under lockdown after the COVID-19 pandemic outbreak.
Considering the business uncertainty emanating from COVID-19, the company is unable to provide guidance on revenues and margins for fiscal 2021 at this stage. The company will provide an outlook after visibility improves.
DN Prahlad, the independent director, has resigned from the company to devote more time to his other business commitments with effect from April 20, 2020. Infosys appointed Uri Levine as an independent director effective April 20, 2020, based on the recommendations of the nomination and remuneration committee of the board. The appointment is for a period of three years and is subject to the approval of shareholders.
Past Performance
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
