Infosys Q2 results: It does not look like Infosys’ issues have bottomed out. The IT major may have met expectations with a 3.5% sequential rise in net profit,but its call to just maintain its current revenue growth outlook of at least 5% was immensely disappointing. The market was expecting Infosys to raise its revenue growth guidance to 6.5%,following the acquisition of Swiss consultancy Lodestone. Its inability to do so,is a pointer to the company’s continuing short term visibility issues and is reflective of the slow pace of the global outsourcing business. In July Infosys had nearly halved its outlook from the 8-10% growth forecast during the beginning of the fiscal. That was a big jolt to the markets,ut Friday’s decision to maintain that outlook is equally surprising.
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Infosys FY13 revenue forecast does not include Lodestone exec
Infosys Ltd’s revenue growth forecast for the current fiscal year that ends in March does not include the revenue from Lodestone Holding AG,Chief Financial Officer V. Balakrishnan said on Friday.
Infosys last month agreed to buy Lodestone in a deal valued at 330 million Swiss francs ($353 million) as India’s No.2 software services exporter strives to boost income from higher value services and accelerate growth.
Infosys operating margins to fall 200 basis points in FY13-exec
Operating margins at Infosys Ltd will decline by 200 basis points in the current fiscal year that ends in March 2013 from a year earlier,Chief Financial Officer V. Balakrishnan said on Friday.