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Infosys Earnings: Why INFY Stock Is Soaring 13% Today

Infosys (NYSE:INFY) earnings for the Indian business services company’s fiscal first quarter of 2021 have INFY stock flying higher on Wednesday. That comes after reporting diluted earnings per share of 13 cents on revenue of $3.12 billion. Both of these are better than Wall Street’s estimates of 12 cents per share and revenue of $2.94 billion.

The regional office of Infosys (INFY) in Karnataka, India.
Source: AjayTvm / Shutterstock.com

Here are some additional highlights from the most recent Infosys earnings report.

  • Diluted per-share earnings are the same as what was reported in fiscal Q1 2020.
  • Revenue for the quarter is sitting slightly lower than the $3.13 billion reported during the same time last year.
  • Operating income of $708 million is a 10.1% increase year-over-year from $642 million.
  • The Infosys earnings report also has net income coming in at $558 million.
  • That’s a 2.2% boost over the company’s net income of $546 million in the same period of the year prior.

Salil Parekh, CEO of Infosys, said this about the earnings report.

“Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients’ business priorities which is resonating with them in these times. It also demonstrates the remarkable dedication of our employees and leadership during this period.”

Infosys includes some guidance for fiscal 2021 in its earnings report. It’s expecting revenue growth to range from flat to 2% and operating margin to come in between 21% and 23%.

INFY stock was up 12.7% as of Wednesday afternoon.

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/2020/07/infosys-earnings-send-infy-stock-soaring/.

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