Key Points
India's second-largest IT services firm by revenue, halved its full-year revenue forecast on Thursday and posted a first-quarter profit that missed estimates as clients cut back spending in a cloudy economic environment...
Infosys' U.S.-listed shares fell nearly 7% in pre-market trading after the company cut its full-year revenue growth of 1%-3.5% on a constant currency basis from 4%-7% previously...
There are some discretionary spending cuts from clients in the short-term and overall decision-making has slowed down, CEO Salil Parekh said in a media conference...
India's IT services companies have kicked off the earnings season on a weaker note, with market leader Tata Consultancy Services (TCS.NS) warning of an uncertain demand environment, and smaller peers HCLTech (HCLT.NS) and Wipro (WIPR.NS) reporting and projecting muted growth...
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