- Wipro (WIT -3.2%) expects FQ3 IT services revenue (responsible for 94% of FQ2 revenue) of $1.808B-$1.842B. The company's total FQ3 revenue consensus is at $1.99B.
- IT services revenue growth slipped to 8.6% in FQ2 from 9.6% in FQ1. Wipro notes the benefits of a weak rupee were offset by the dollar's strength against other currencies.
- Gross margin fell 30 bps Y/Y to 30.8%. G&A spend rose 16% to $107M; sales/marketing spend was nearly flat at $123M.
- FQ2 results, PR (.pdf)