Infosys slashes forecast to lowest since global financial crisis as slowdown pinches

Infosys issued its lowest revenue growth guidance since the global financial crisis 15 years ago, slashing its top-line forecast to just 1.0-3.5% this year in the wake of a global slowdown in demand.

The company’s previous estimates predicted a 4-7% revenue guidance in April, which was again a trimmed version of its earlier forecast of 16-16.2% growth this year. For comparison, the company’s revenue had expanded by 15.4% in FY 2023, which was — incidentally — just below the company’s own guidance for the year.