Categories Earnings, LATEST, Technology
Infosys raises FY20 revenue growth outlook post strong topline performance in Q2
Information technology firm Infosys Limited (NYSE: INFY) said its revenues for the second quarter of 2020 jumped 10% to $3.2 billion, which was higher than the average analysts’ expectation of $3.19 billion. INFY shares were modestly up during pre-market trading hours on Friday.
The top-line was boosted by Digital revenues of $1.23 million, which was 34% higher than a year ago.
Down the line, the Bengaluru-based firm reported flat profits of 13 cents per share, which was a cent lower than what the markets had expected.
“We saw expansion in operating margins during the quarter driven by improvement in operational parameters and cost efficiencies,” CFO Nilanjan Roy said in a statement.
“We took the first step towards implementation of our new capital allocation policy by increasing interim dividend by over 14% compared to FY19,” he added.
READ: NYU professor who predicted Amazon-Whole Foods deal forecasts death of Tesla, 4 others
Q2 operating margin came in at 21.7%, 1.2% improvement over the last sequential quarter.
Meanwhile, the company raised the lower end of its FY20 revenue guidance. Infosys currently expects revenue growth for the fiscal year in the range of 9%-10% in constant currency, compared to the earlier projection of 8.5% to 10%.
Guidance on operating margin was maintained in the range of 21-23%.
INFY stock has gained 18% in the year-to-date period.
Listen to on-demand earnings calls and hear how management responds to analysts’ questions
Most Popular
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
Comments
Comments are closed.