Wipro slips after offering soft guidance; Infosys, Cognizant off slightly

|About: Wipro Limited (WIT)|By:, SA News Editor

In addition to missing FQ3 revenue estimates (while beating on EPS), Wipro (WIT -1.8%) is guiding for FQ4 revenue of $1.712B-$1.745B, below a $1.86B consensus.

The Indian IT outsourcing firm posted an FQ3 gross margin of 32.2%, +160 bps Y/Y. Op. margin rose to 20.8% from 19% a year ago.

Rivals Infosys (INFY -1.1%) and Cognizant (CTSH -0.6%) are ticking lower. Infosys rallied a week ago after beating FQ3 estimates and raising its FY14 guidance.