Friday, 13 January 2017

Infosys narrows annual revenue guidance range after Q3 profit beat

Infosys Ltd, India's second biggest software services company, narrowed its full-year revenue guidance range after posting a better-than-expected 7 percent rise in third-quarter profit that was helped by new client wins. Bengaluru-headquartered Infosys said it expected revenue to grow between 8.4 percent to 8.8 percent in constant currency terms in the fiscal year to March. 

Its earlier guidance was for an increase of between 8 percent and 9 percent in full-year revenue. Indian information technology companies such as Infosys have struggled in 2016 as major clients in the United States and Europe, their biggest markets, held back discretionary spending, awaiting clarity on policy changes under U.S. President-elect Donald Trump's administration, and changes following the UK's Brexit move.

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