Infosys Shares Rise 8% After 1Q Revenue Beat
By Chris Wack
Infosys shares were up 8% to $22.12 after the company said it had first-quarter revenue that beat analysts' estimates.
The India-based digital services company said it had quarterly revenue of $4.71 billion, compared with $4.62 billion in the same quarter last year. Analysts polled by FactSet were looking for revenue of $4.66 billion.
Earnings for the quarter were $763 million, or 18 cents a share, compared with last year's $724 million, or 17 cents a share. Analysts were looking for earnings of $751.8 million, or 18 cents a share.
The company said free-cash flow was up 56.5% from last year, and it won a number of new contracts in the quarter.
Infosys said it is looking for fiscal 2025 revenue growth of 3% to 4%.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 18, 2024 10:37 ET (14:37 GMT)
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