Seeking Alpha

Wipro issues strong Sep. quarter guidance; shares +1.9%

  • The Indian IT outsourcing firm expects its FQ2 (Sep. quarter) IT services revenue to rise 2%-3.9% Q/Q to $1.62B-$1.65B; analysts had been expecting a 1%-3% increase.
  • UBS (Buy): "This is the strongest guidance from the company in recent history."
  • Shares were nearly unchanged on Friday following Wipro's (WIT) FQ1 results. They rallied earlier in the month in response to Infosys' FQ1 beat and solid FY14 guidance.
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