Infosys Earnings: INFY Stock Dips 1% on Mixed Q2

INFY missed EPS estimates by 1 cent

Infosys (NYSE:INFY) earnings for the company’s fiscal second quarter of 2020 has INFY stock on the move Friday. This comes from earnings per share of 13 cents, which is below Wall Street’s estimate of 14 cents for the quarter. Revenue of $3.21 billion beats out analysts’ estimate of $3.19 billion for the period.

Infosys Earnings: INFY Stock Dips 1% on Mixed Q2
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Let’s take a more in-depth look at the most recent Infosys earnings report.

  • EPS for the quarter is the same as what was reported in fiscal Q2 2019.
  • Revenue was up 9.93% from the $2.92 billion reported during the same time last year.
  • Gross profit of $1.07 billion is up 2.88% from $1.04 billion in the fiscal second quarter of the previous year.
  • Operating profit of $696 million is up less than 1% YoY from $692 million.
  • The Infosys earnings report also has net income coming in at $572 million.
  • That’s a 1.55% drop from the $581 million reported in the same period of the year prior.

Pravin Rao, COO of INFY, has this to say about the current Infosys earnings report.

“Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance. Large deal wins were $2.8 bn. We are especially pleased by the reduction in attrition driven by our focus on enhanced employee value proposition.”

INFY stock was down 1.25% as of Friday afternoon, but is up 16.34% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/infosys-earnings-hit-infy-stock/.

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