SA Transcripts • Wed, Oct. 22
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Wed, Oct. 22, 12:41 PM
- 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)
Wed, Oct. 22, 8:13 AM
Tue, Oct. 21, 5:30 PM
Wed, Aug. 6, 9:43 AM
- Though its Q2 revenue was in-line, Cognizant (NASDAQ:CTSH) expects Q3 revenue of $2.55B-$2.58B and EPS of $0.63+ vs. a consensus of $2.66B and $0.60. Full-year guidance is for 14%+ revenue growth and EPS of $2.54+ vs. a consensus for 16.9% growth and EPS of $2.38.
- The company blames its top-line softness on "weakness at certain clients and longer than anticipated sales cycles for certain large integrated deals." The IT outsourcing industry in general has been pressured by a growing customer preference for smaller deals, and (in certain segments) the adoption of cloud services.
- Gross margin fell 70 bps Y/Y to 40.4%, and SG&A spend rose 15% to $483M. Cognizant spent over $100M on buybacks, and has increased its buyback authorization by $500M; $900M remains available under the company's buyback program.
- Peers Infosys (INFY -4.2%), Wipro (WIT -2.5%), and Accenture (ACN -1.5%) are also trading lower. Infosys dropped last month after providing cautious remarks about near-term demand to go with an EPS beat.
- Q2 results, PR
Thu, Jul. 24, 9:07 AM
Thu, Jul. 17, 7:11 PM
- Wipro (NYSE:WIT) has signed Master Services Agreements with Canadian business services firm ATCO to provide a "complete suite of IT [outsourcing] services" to ATCO's Canadian and Australian ops.
- As part of the deal, Wipro is buying ATCO's I-Tek IT services unit for C$210M ($195M) in cash.
- Wipro expects the deal is expected to be produce revenue of more than C$120M ($112M) annually over the next 10 years, up to Dec. 2024. It comes ahead of the company's July 24 FQ1 report.
Fri, May. 23, 2:43 PM
- With shares remaining below $12 following a post-earnings April selloff, Barclays has upgraded Wipro (WIT +2.6%) to Equal Weight.
- Though Wipro beat Q1 estimates last month, disappointment with guidance for Q2 IT services revenue of $1.715B-$1.755B led shares to fall. They've underperformed Indian peers that have been rallying on election-related hopes.
Thu, Apr. 17, 9:08 AM
Thu, Apr. 17, 12:05 AM
Wed, Apr. 16, 5:30 PM
Thu, Mar. 13, 4:01 PM
- Aided today by a broader market selloff, Infosys (INFY -2.7%) has fallen 9% since the company hosted an investor meeting yesterday at its Bangalore HQ. Chairman Narayana Murthy stated at the event his company is likely to see 11.5% FY14 (ends March '14) revenue growth, at the low end of a prior guidance range of 11.5%-12%.
- Peers Wipro (WIT -2.8%) and Cognizant (CTSH -2%) are also down over 2%. Nomura argues Infosys is contending with company-specific issues, including skill mismatches and client project ramp-downs/cancellations. It also thinks Infosys might have higher exposure to discretionary projects at retail clients.
Wed, Feb. 5, 11:46 AM
- Cognizant (CTSH -5.1%) has guided for Q1 revenue of at least $2.42B and EPS of $1.18 vs. a consensus of $2.42B and $1.10. However, full-year guidance is more mixed: Cognizant expects revenue of at least $10.3B and EPS of at least $5.02 vs. a consensus of $10.38B and $4.77.
- The company has also announced a 2-for-1 stock split. Shares will begin trading on a post-split basis on March 8.
- 5K workers were added in Q4, raising Cognizant's total headcount to 171.4K. SG&A spend +12.1% Y/Y to $450.5M, less than revenue growth of 20.9%.
- Rivals Infosys (INFY -1.7%) and Wipro (WIT -1.3%) are following Cognizant lower.
- Q4 results, PR
Fri, Jan. 17, 10:55 AM
- 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.
Fri, Jan. 17, 9:13 AM
Fri, Jan. 17, 8:44 AM
Fri, Jan. 17, 12:05 AM
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Wipro Ltd is an IT services company. Its IT Services businesses provide IT & IT-enabled services which include IT consulting, custom application design, development, re-engineering & maintenance, systems integration, package implementation, & others.
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