Infosys Beats Estimates, Stock Up 13%

Suparna / 11 Jan 2013

Infosys has posted revenue growth of 6.3% on a sequential basis, outperformed expectations. Also, it has resulted in the stock price of Infosys trading higher by 13%.
Infosys announced its Q3FY13 results earlier today. It has surprised the street with results being better than expectations. Revenues for the tech giant rose by 6.34% to USD 1.911 billion from USD 1.797 in the previous quarter. Revenues excluding those coming from Lodestone stood at 1.872 billion which translates into a sequential growth of 4.2%. Profits of Infosys remained flat at USD 434 million, which is higher by 0.70% as compared to USD 431 million in Q2FY13. 

On the guidance front, there was an upward revision made this time. This has been contrary to the word of a downward revision on the street. With this strength in results, Infosys upped the FY13 guidance from USD 7.343 billion to USD 7.450 billion. Watch this space for a detailed analysis on why and how Infosys managed to impress.

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