Categories Earnings, Technology

Wall Street expects 9% growth in Infosys Q2 revenue

Information technology firm Infosys Limited (NYSE: INFY) is slated to report second-quarter 2020 earnings results on Friday, October 11, before the opening bell. Despite the concerns relating to the slowing economy in different parts of the world, Wall Street expects the company to report a 9% jump in revenues to $3.19 billion during the quarter.

The Bengaluru-headquartered firm is projected to report second-quarter earnings of $0.14 per share, a cent higher than what it reported last year.

Analysts have hit bulls-eye in predicting the bottom-line results of Infosys in three of the past four quarters. In just one quarter, Infosys missed the average market estimate by a cent.  

Infosys Q1 profit rises 2%

Stagnation in economic growth in China and Europe, as well as the lack of clarity relating to Brexit are expected to dent the second-quarter results. In fact, Infosys recently acquired Irish contact center Eishtec for an undisclosed amount, in a move that could be seen as setting up of an operating hub outside UK.

Infosys had also earlier this year bought a 75% stake in ABN AMRO unit Stater to add fillip to its US mortgage business.

READ: NYU professor who predicted Amazon-Whole Foods deal forecasts death of Tesla, 4 others

During the first quarter of 2020, Infosys reported a 2% increase in earnings helped by higher revenues as well as lower income tax expenses. The company also lifted revenue growth outlook for fiscal 2020 that is above the Street view.

Segment growth was robust with all large regions and most verticals growing at double digits year-over-year in constant currency.

INFY stock has gained 18% in the year-to-date period. The stock has a 12-month average price target of $12.75, which is at a 14% upside from Wednesday’s trading price.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Viewing Highlight