Infosys meets Street expectations; raises revenue guidance

Infosys, the country’s second largest software services exporter, reported double-digit revenue growth for the fourth consecutive quarter on Friday, with revenues growing by 9.9% year-on-year in dollar terms and 11.4% in constant currency in the September quarter. Infy’s performance is in stark contrast to its larger peer Tata Consultancy Services (TCS), which reported weak numbers for the second consecutive quarter. Infy’s current growth trajectory is expected to sustain, given that the company has also revised the lower end of its revenue guidance upwards to 9% from 8.5% earlier. The company’s revenue guidance stands at 9-10% now, against 8.5-10% given in the previous quarter, which itself was bumped up from the earlier guidance of 7.5-9.5%.

The company has also signed large deals worth $2.8 billion, which is the highest so far.