Infosys Q3 Sales Comes Ahead Of Consensus, Raises FY22 Revenue Outlook
Infosys Ltd (NYSE:INFY) reported third-quarter FY22 revenue of $4.25 billion, beating the consensus of $4.08 billion. The company's Q3 performance represented sequential growth of 7.0% in a seasonally weak quarter and a year-on-year increase of 21.5% in constant currency.
- Large deal wins accelerated with TCV of $2.53 billion in Q3.
- Digital revenue grew 41% Y/Y to $2.48 billion, while Core revenue stood at $1.76 billion.
- The operating margin decreased from 25.4% to 23.5%. EPS of $0.18 was at par with analyst consensus.
- Infosys held $2.15 billion in cash and equivalents. Free cash flow was $719 million.
- Outlook: Infosys raised the FY22 revenue growth guidance to 19.5%-20.0%, up from the previous guidance of 16.5%-17.5%.
- Price Action: INFY shares traded higher by 3.88% at $25.99 in the premarket session on the last check Wednesday.