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Wipro (NYSE: WIT): Q3 2020 Earnings Snapshot

— Wipro Limited (NYSE: WIT) reported its third-quarter 2020 earnings of $0.06 per share, in line with the Wall Street projection.

— Gross revenue rose by 2.7% to $2.2 billion. This came in line with the consensus estimates.

Earnings Update by AlphaStreet

— IT Services segment revenue grew by 2.2% sequentially to $2.09 billion. Non-GAAP constant currency IT Services segment revenue increased by 1.8% quarter-over-quarter.

— The company expanded operating margins by 0.3% aided by a favorable movement in the currency. The company remains focused on deepening customer relationships, converting funnel and winning large deals.

— Looking ahead into the fourth quarter, the company expects revenue from the IT Services business to be in the range of $2.095-2.137 billion. This translates to a sequential growth of 0-2%.

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