Infosys raises revenue forecast on strong demand

Infosys Ltd reported higher-than-expected revenue in the first quarter, prompting India’s second-largest software services exporter to raise its sales outlook for the year.

The strong forecast from the IT behemoth came at a time when many industry watchers worried if clients of India’s $227 billion sector would cut back spending on digital services amid predictions of a global recession.

“Our strong overall performance in Q1 amidst an uncertain economic environment is a testament to our innate resilience as an organisation. We continue to gain market share and see a significant pipeline,” said Salil Parekh, the chief executive officer and managing director of Infosys. “We raised our revenue guidance based on our deal pipeline.”