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Thread: Infosys springs a surprise
01-12-2013, 02:40 AM #1
Infosys springs a surpriseAfter several disappointing quarters, the software services industry’s bellwether Infosys surprised markets by posting better than expected third quarter results on Friday. The company, which started the year after missing its annual revenue guidance for the first time in almost two decades, announced that it had, despite “headwinds,” earned consolidated revenues amounting to Rs.10,424 crore, an increase of 12 per cent over the comparable quarter of the previous year. This included revenues of Rs.214 crore earned by Zurich-based Lodestone, which Infosys acquired in September 2012. Excluding Lodestone, revenues increased by 6 per cent on an annualised basis.
The sweetener in the results announcement was guidance, which had thus far disappointed the markets this year....being a human...