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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