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Infosys: Fiscal Q1 Earnings Snapshot
BANGALORE, India (AP) — BANGALORE, India (AP) — Infosys Limited (INFY) on Wednesday reported fiscal first-quarter profit of $809 million. The Bangalore, India-based company said it had net income of 19 cents per share. The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 19 cents per share. The business consulting services provider posted revenue of $4.94 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $4.84 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on INFY at Sign in to access your portfolio
Yahoo
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India's Infosys narrows annual forecast helped by banking and financial unit strength
BENGALURU (Reuters) -India's Infosys narrowed its full-year forecast on Wednesday after reporting stronger-than-expected revenue for the first quarter, driven by growth in its financial services segment. The Bengaluru-based software services company narrowed its annual revenue growth forecast to 1%–3% from a prior range of flat to 3%- in line with analyst expectations for a lift in the lower end. Consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter, while analysts, on average, expected revenue of 418.06 billion rupees, as per data compiled by LSEG. Revenue from Infosys' banking and financial services segment rose for the fifth consecutive quarter, helped by marquee deal wins including Bank of Sydney, Metro Bank, and U.K.-based AIB. Net profit rose 8.7% in three-month period to 69.21 billion rupees. Analyst had expected 67.55 billion rupees, as per data compiled by LSEG. Analysts have said that U.S. President Donald Trump easing some tariff restrictions, along with global interest rate cuts by central banks, could boost India's $283-billion IT industry, where the banking and financial services segment contributes about a third of total revenue. Net new bookings rose $3.8 billion during the quarter, compared with $2.6 billion in the previous quarter and $4.1 billion in the year-ago period. Infosys also retained its operating margin forecast at 20-22% for FY26. Earlier this month, bellwether Tata Consultancy Services missed revenue estimates and flagged delays in decision making and project starts. Smaller rivals and Tech Mahindra fared better than large caps on account of higher deal wins and better margin. Shares listed in Mumbai closed 0.8% higher ahead of the results. ($1 = 86.3880 Indian rupees) Sign in to access your portfolio
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Donald Trump announces trade deal with Japan
US President Donald Trump has announced a trade framework with Japan, placing a 15% tax on goods imported from that nation. 'This Deal will create Hundreds of Thousands of Jobs – There has never been anything like it,' Mr Trump posted on Truth Social, adding that the United States 'will continue to always have a great relationship with the Country of Japan'. The president said Japan would invest 'at my direction' 550 billion dollars into the US and would 'open' its economy to American cars and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Mr Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting on August 1. Early Wednesday, Mr Ishiba acknowledged the new trade agreement, saying it would benefit both sides and help them work together. With the announcement, Mr Trump is seeking to tout his ability as a dealmaker — even as his tariffs, when initially announced in early April led to a market panic and fears of slower growth that for the moment appear to have subsided. Key details remained unclear from his post, such as whether Japanese-built cars would face a higher 25% tariff that Mr Trump imposed on the sector. But the framework fits a growing pattern for Mr Trump, who is eager to portray the tariffs as a win for the US. His administration says the revenues will help reduce the budget deficit and more factories will relocate to America to avoid the import taxes and cause trade imbalances to disappear. The wave of tariffs continues to be a source of uncertainty about whether it could lead to higher prices for consumers and businesses if companies simply pass along the costs. The problem was seen sharply on Tuesday after General Motors reported a 35% drop in its net income during the second quarter as it warned that tariffs would hit its business in the months ahead, causing its stock to tumble. As the August 1 deadline for the tariff rates in his letters to world leaders is approaching, Mr Trump also announced a trade framework with the Philippines that would impose a tariff of 19% on its goods, while American-made products would face no import taxes. The president also reaffirmed his 19% tariffs on Indonesia. The US ran a 69.4 billion dollar trade imbalance on goods with Japan last year, according to the Census Bureau. America had a trade imbalance of 17.9 billion dollars with Indonesia and an imbalance of 4.9 billion dollars with the Philippines. Both nations are less affluent than the US and an imbalance means America imports more from those countries than it exports to them. The president is set to impose the broad tariffs listed in his recent letters to other world leaders on August 1, raising questions of whether there will be any breakthrough in talks with the European Union. At a Tuesday dinner, Mr Trump said the EU would be in Washington on Wednesday for trade talks. 'We have Europe coming in tomorrow, the next day,' Mr Trump told guests. The president earlier this month sent a letter threatening the 27 member states in the EU with 30% taxes on their goods to be imposed starting on August 1.
