Fri, Oct. 21, 8:38 AM
Thu, Oct. 20, 5:30 PM
Thu, Oct. 20, 12:40 PM
- Appirio, founded in 2006, counts 1K+ employees globally and partners ranging from Stryker, Coca-Cola and Home Depot to Facebook, eBay and Sony PlayStation.
- Wipro (WIT -1.6%): "In an increasingly digital world, as consumer behaviors and expectations continue to be reshaped by experiences, companies are recognizing that they need to transform how they engage with customers and employees by leveraging the power of Cloud. Appirio and Wipro are coming together to unlock transformational synergies in the applications space and help enterprises create new business models."
Appirio: "When you combine Wipro’s global scale and deep digital focus with Appirio’s transformative worker and customer experience expertise, and best in class team, brand, and partners, you create a formidable force in the industry. Together, our aim is to dominate the market and claim the top spots in industry Net Promoter Score, market share, and best places to work."
- Existing involvements with Salesforce and Workday will continue under the Appirio brand and structure.
- Appirio PR, blog post
- Wipro + Appirio
Tue, Jul. 19, 1:56 PM
- Shares of Wipro (NYSE:WIT) are down 4% after missing on both lines of its FQ1 report.
- Gross revenue $2.0B (+11% Y/Y).
- Net income of $304M (-6%).
- IT Services Segment Revenue was $1.93B (+7.6%).
- Non-GAAP constant currency IT Services Segment revenue (+9.5%).
- IT Services Segment profits of $345M (-3.0%).
- Margin fell sharply by 190 bps to 17.8%.
- The company expects Q2 revenue for IT services business to be in the range of $1.93-$1.95B, a growth of 0.01%-1.00% (Q/Q).
- Previously: Wipro misses by $0.02, misses on revenue (July 19)
Tue, Jul. 19, 8:19 AM
Mon, Jul. 18, 5:30 PM
Wed, Jul. 6, 12:30 PM
Wed, Apr. 20, 9:44 AM
- Wipro (NYSE:WIT): FQ4 EPS of $0.14 misses by $0.01.
- Revenue of $2.1B (+7.7% Y/Y) beats by $100M.
Thu, Feb. 11, 9:33 AM
- Wipro (WIT -2.8%) is buying HealthPlan Services, a provider of BPO and Web-based exchange services for the U.S. health insurance industry, for $460M in cash. The deal is expected to close in the next 60-90 days.
- Wipro: "In the highly competitive Exchange market, payers rely on HealthPlan Services innovative and robust offering to acquire, service and retain members. Payers also leverage the analytical and predictive engines of HealthPlan Services to better serve their members. Today, HealthPlan Services connects its payer clients to over 40 public exchanges and over 150 private exchanges in the U.S."
- The company also suggests the Affordable Care Act (i.e. Obamacare) is contributing to HealthPlan's growth, declares HealthPlan provides "synergies with Wipro's presence in the Managed Medicare and Commercial Group Insurance markets," and calls the purchase "closely aligned with Wipros key levers for growth, which are to dominate the services market through industry utilities that multiple customers can use."
- The deal follows one to buy German IT services firm cellent AG for $78M. Rival Cognizant bought healthcare IT firm TriZetto for $2.7B in 2014. Wipro is lower on a morning the Nasdaq is down 1.2% and the S&P 1.1%.
- Update: Likely weighing on Wipro: Morgan Stanley has downgraded to Equal Weight.
Mon, Jan. 18, 2:59 PM
- Wipro (NYSE:WIT): FQ3 EPS of $0.14 misses by $0.01.
- Revenue of $1.94B (+7% Y/Y) misses by $30M.
- Headcount increased by 2,268 to 170,664.
- Declared an interim dividend of $0.08/ADS
Thu, Jan. 14, 1:12 PM
- Infosys (NYSE:INFY) has jumped to its highest levels since November after beating FQ3 revenue estimates (EPS was in-line) and raising its FY16 (ends March '16) dollar-based revenue growth guidance to 8.9%-9.3% from a prior 6.4%-8.4%, and above a 7.4% consensus. Credit Suisse has responded by upgrading to Outperform.
- IT outsourcing peers Cognizant (CTSH +5.3%), Accenture (ACN +2.6%), and Wipro (WIT +2.6%) have joined Infosys in outperforming. The Nasdaq is up 1.8%, and the S&P 1.6%.
- FQ3 details: Forex had a 4% impact on Infosys' FQ3 sales growth (8.5% vs. 12.5%). Gross margin fell to 37.2% from 38.7% a year ago. Operating expenses rose 11% Y/Y to $296M. Infosys ended FQ3 with $4.5B in cash, and no debt.
- CEO Vishal Sikka: "Alongside grassroots innovation, we continue to see growing adoption of our Aikido services, bringing the power of intelligent systems, automation and software to amplify the skills and imaginations of our people. This combination helped us deliver encouraging results despite the traditional seasonality of the quarter and the additional headwinds..."
- COO Pravin Rao: "The healthy volume growth this quarter has been encouraging. The lesser working days and our investments into additional trainees resulted in softer pricing and utilization for the quarter ... We continue to simplify our policies and enable greater agility within the company, with the goal of boosting our productivity."
- Infosys' FQ3 results, earnings release
Dec. 17, 2015, 1:27 PM
- Sterne Agee has launched coverage on Wipro (WIT -2.3%) with an Underperform rating.
- The launch comes two days after the Indian IT outsourcing firm forecast FQ3 (calendar Q4) IT services revenue would be at the low end of a prior $1.841B-$1.878B guidance range due to the impact of flooding in Chennai, where Wipro has over 22K employees. The company added it has "largely seen the restoration of normal operations" at its Chennai facilities.
- Two weeks ago: Wipro buying German IT services firm for $78M
Dec. 2, 2015, 10:38 AM
- Wipro (WIT -1%) is buying cellent AG, a German IT consulting and software outsourcing services firm servicing the DACH region (Germany, Austria, and Switzerland), for €73.5M ($77.9M). The deal is expected to close in the March quarter.
- Cellent has 800+ consultants on its payroll. Wipro: "The DACH market is a strategic growth and investment region for Wipro. This acquisition will provide Wipro with significant scale and prime customer relationships, especially in the Manufacturing and Automotive domains, which are key industry sectors in the DACH region."
- Earlier this year, Wipro was reported to be in talks to buy U.K. outsourcing services firm Equiniti for close to £1B, but not deal was announced.
Oct. 21, 2015, 8:33 AM
- Wipro (NYSE:WIT): FQ2 EPS of $0.14 in-line.
- Revenue of $1.91B (₹125.1B +7% Y/Y) misses by $70M.
Oct. 20, 2015, 5:30 PM
Oct. 12, 2015, 1:23 PM
- Though Infosys (NYSE:INFY) beat FQ1 revenue estimates (while posting in-line EPS) and reiterated FY16 (ends March '16) constant currency revenue growth guidance of 10%-12%, a strong dollar has led dollar-based revenue growth guidance to be cut to 6.4%-8.4% from 7.2%-9.2%.
- Also: The IT outsourcing giant has disclosed CFO Rajiv Bansal plans to resign. M.D. Ranganath, currently Infosys' head of strategic operations, will replace him.
- Forex had a 5.5% impact on FQ1 sales growth. COO Pravin Rao states "softness" is expected in financial services, aviation, energy, and mining demand. CEO Vishal Sikka notes industry pricing pressure is expected to continue, but does his best to stay upbeat. “Traditionally, the second half has given us dips in growth We are going to work very hard to make sure that we buck it this time. We have been foreseeing that all year.”
- Financials: Gross margin fell to 37.8% from 38.5% a year ago. Operating expenses rose 8% to $294M. Infosys ended FQ1 with $4.6B in cash, and no debt.
- Peer Wipro (NYSE:WIT), which reports on Oct. 21, is following Infosys lower.
- Infosys' FQ1 results, PR (.pdf)