Dollar revenue growth was 3.2 percent at USD 2,651 million against expectations of 2.6 percent increase and constant currency revenue growth came in at 2.7 percent against estimates of 2 percent. It raised its FY18 dollar revenue growth guidance to 7.1-9.1 percent from 6.1-8.1 percent earlier. The IT bellwether has maintained its constant currency revenue growth guidance at 6.5-8.5 percent (which was 8.3 percent in FY17 and 13.3 percent in FY16) and also retained operating margin guidance at 23-25 percent for the current financial year. Consolidated profit during the quarter fell 3.3 percent sequentially to Rs 3,483 crore and revenue declined 0.2 percent to Rs 17,078 crore. Sunil Shankar MatkarMoneycontrol NewsIt was a good start to the year by Infosys as its first quarter earnings beat analysts' expectations on all counts on Friday, with the company retaining its full year constant currency revenue growth guidance.
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NEW DELHI: Infosys, second largest domestic IT firm, on Friday reported a 3.3 per cent sequential drop in net profit at Rs 3,483 crore for June quarter. The numbers though beat Rs 3,429 crore profit estimate projected by analysts in an ETNow poll.The IT major had reported Rs 3,603 crore profit for the corresponding quarter last year.Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. This was against ET Now poll estimate of Rs 16,987.90 crore.The company maintained its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Revenue growth in constant currency terms came in at 2.7 per cent for the quarter.Ebit for the quarter at Rs 4,111 crore beat ET NOW poll estimate of Rs 4,009 crore. The company added 6 clients in $25 million category."Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts– revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results.
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Citigroup profit beats on smaller drop in trading revenue
Fixed-income trading revenue fell 6 percent, while equity trading revenue dropped 11 percent. (Reuters) - Citigroup Inc (C.N) reported a quarterly profit that beat analysts' estimates as trading revenue held up better than the company's forecast and loans grew. Wells Fargo & Co (WFC.N), the third-biggest U.S. bank by assets, also reported on Friday. Citigroup's total revenue rose 2 percent to $17.90 billion and beat estimates of $17.37 billion. The fourth-biggest U.S. bank by assets said on Friday net income fell 3.2 percent to $3.87 billion in the second quarter ended June 30.NEW DELHI: Infosys, second largest domestic IT firm, on Friday reported a 3.3 per cent sequential drop in net profit at Rs 3,483 crore for June quarter. The numbers though beat Rs 3,429 crore profit estimate projected by analysts in an ETNow poll.The IT major had reported Rs 3,603 crore profit for the corresponding quarter last year.Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. This was against ET Now poll estimate of Rs 16,987.90 crore.The company maintained its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Revenue growth in constant currency terms came in at 2.7 per cent for the quarter.Ebit for the quarter at Rs 4,111 crore beat ET NOW poll estimate of Rs 4,009 crore. The company added 6 clients in $25 million category."Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts– revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results.
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