Infosys (NYSE:INFY) earnings for the business consulting company’s fiscal third quarter of 2020 have INFY stock up on Friday. This is due to the company’s diluted per-share earnings of 15 cents beating Wall Street’s estimate of 14 cents. It also helps that revenue of $3.24 billion matches what analysts were expecting.
Here are some additional highlights from the most recent Infosys earnings report.
- Diluted earnings per share are up 15% from the 12 cents reported in fiscal Q3 2019.
- Revenue is 8.36% higher than the $2.99 billion from the same time last year.
- Operating income of $711 million is a 5.33% increase YoY from $675 million.
- The Infosys earnings report also includes a net income of $627 million.
- That’s a 24.90% improvement compared to its net income of $502 million from the same period of the year prior.
Salil Parekh, CEO and MD of Infosys, says this about the INFY stock earnings.
“Q3 results further underscore that we remain steadfast in our journey of sustained client relevance and deepening engagement with them, as they partner with us in navigating their next in the digital transformation era. “For us, this has translated into double digit growth year-to-date, leading to an increase in revenue guidance, accompanied by expanding operating margins.”
The Infosys earnings report notes that the company now expects revenue growth for fiscal 2020 to range from 10.00% to 10.50%. Wall Street is estimating revenue of $12.84 billion for the fiscal year.
INFY stock was up 2.10% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.