Infosys Ltd ADR (NYSE:INFY) stock was down on Friday after the information technology company released its earnings report for its fiscal second quarter of 2016.
Infosys reported revenue of $2.59 billion during its fiscal second quarter of 2016. This is up from the $2.39 billion that it reported during the same time last year. However, it just missed the $2.60 billion that Wall Street analysts were expecting from the company in its fiscal second quarter of 2016.
Earnings per share reported by Infosys for its fiscal second quarter of 2016 was 24 cents. The company reported earnings per share of 23 cents during the fiscal second quarter of 2016. INFY’s earnings per share for the fiscal second quarter of 2016 matched estimates made by analysts.
Infosys reported operating profit of $644 million for its fiscal second quarter of 2016. This is up 5.6% from the same time last year. It also represents a 7% increase in operating profits from the previous quarter.
Net profit reported by Infosys in its fiscal second quarter of 2016 was $539 million. This represents a 3.8% increase from net profit reported in its fiscal second quarter of 2015. It is also 5.5% above net profit reported by the company in its fiscal first quarter of 2016.
Infosys also updated its guidance for fiscal 2016 revenue in its earnings report for the fiscal second quarter of the year. It is now expecting revenue for the year to be up 8% to 9% in constant currency. This is a decrease from its previous outlook, which had revenue for fiscal 2016 being up 10.5% to 12% from the year prior.
INFY stock was down 5% as of Friday morning.
