Infosys Ltd ADR (INFY)

Shares of Infosys Limited American Deposi (INFY) dropped by 6.53% from $17.61 to $16.46 in the trading on Thursday, October 12, 2023. The reason why INFY stock down is due to weak fiscal 2024 revenue outlook:

• Despite reporting an adjusted EPS of 18 cents (unchanged from the previous year) and a 2.5% increase in revenue to $4.72 billion, Infosys faced its seventh consecutive quarter of slowing revenue growth. Their guidance for fiscal 2024 was revised down to a growth range of 1% to 2.5%, compared to the earlier forecast of 2.6%. Analysts expressed disappointment, citing increased scrutiny and reductions in discretionary projects and large transformation programs.
• Infosys is cautiously viewed due to ongoing challenges in demand and extended sales cycles for major deals. Competing with companies like Tata Consultancy Services, Cognizant Technology Solutions, Accenture, and others.

Before the opening bell, it is anticipated that Infosys Limited (INFY), accompanied by free alerts, will report quarterly earnings of $0.19 per share on revenue of $4.74 billion. In after-hours trading, Infosys shares experienced a 0.1% decrease, falling to $17.05.

https://www.moneycontrol.com/news/business/earnings/infosys-q4-results-live-updates-net-profit-growth-outlook-dividend-things-to-watch-out-10407851.html