Infosys Q3 Results were just announced. Here are the highlights:
- Revenues were $ 2,407 million for the quarter (Analysts were expecting $ 2,370 million); QoQ growth was 0.6% in USD; 1.1% in constant currency terms; YoY growth was 8.5% in USD; 12.5% in constant currency terms
- Net profit was $ 524 million for the quarter; QoQ growth was 0.9%; YoY growth was 0.4%
- Earnings per share (EPS) was $ 0.23 for the quarter on par with analyst expectations
- FY 16 revenue guidance increased to 12.8%-13.2% in constant currency and 8.9%-9.3% in USD terms
- Volume growth at 3.1% quarter on quarter
- Attrition declined to 13.4% on standalone basis (TCS’ attrition was north of 15%)
- Continued adoption of Aikido offerings, and increased traction for other platforms – Panaya, Skava, Edge, Infosys Information Platform and Infosys Automation Platform.
- Completed the acquisition of Noah Consulting, and investment in startups – WHOOP and CloudEndure
- Investments in OpenAI, a non-profit Artificial Intelligence organization
- Clients mentioned – ALSTOM, Mitsubishi Aircraft Corporation, Japan (MITAC), Mercedes Benz Research and Development Center, India, TNT, ATP, Proximus, BNSF Railway, & Aimia
- The CEO mentioned having won 4 large deals worth $360 mn; and pursuit of a $600 mn order
Earnings were generally on par with expectations.
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