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Infosys -1.5% on mixed Q2 results

  • Infosys (NYSE:INFY) drops 1.5% after reporting mixed Q2 results that missed EPS and a top-line beat with sales +9.9% Y/Y. Digital revenues grew 38.4% Y/Y to $1.23B.
  • Q2 operating margin at 21.7%, 1.2% improvement over prior quarter.
  • INFY declared interim dividend of ₹8/share (~$0.11 per ADS).
  • INFY increased lower end of FY20 revenue guidance; revised guidance is 9%-10% in constant currency; Maintained FY20 operating margin guidance range of 21%-23%.
  • The Company completed its share buyback of ₹8,260 crore on Aug. 26, 2019.
  • Pravin Rao, COO. “Large deal wins were $2.8B. We are especially pleased by the reduction in attrition driven by our focus on enhanced employee value proposition.”
  • Previously: Infosys EPS misses by $0.01, beats on revenue (Oct. 11)

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