Infosys signed $5.2 billion in large deals and cut its full-year growth forecast. Its results release gave no reason.
Infosys lowered its full-year revenue growth forecast to 1%-2% on 23 October, in its second-quarter results.
In July it had forecast 1.5%-3.0%. Both ranges strip out exchange-rate moves. They cover the fiscal year to March 2027.
In the same quarter, Infosys reported $5.2 billion of large deal wins, 62% of it new business. Chief executive Salil Parekh said the total included "a mega deal of over $2 billion". Such contracts pay out over several years, not as this year's revenue. The release does not name the client behind the $2 billion deal.
Quarterly revenue was $5,145 million, up 1.5% on a year earlier at constant exchange rates. Infosys said AI work made up 10.5% of revenue, up from 8.2% in the first quarter. The operating margin was 21.0%.
Our reading: the cut takes half a percentage point off the bottom of the range and a full point off the top. The $5.2 billion is contract value spread over several years, so it does not show what drove the cut. The release does not say.
Sources
Our file on Infosys
- 24 Oct
TCS entered 284 workers in the US H-1B visa lottery, down from 5,955. Infosys and Cognizant also cut their entries.
- 9 Oct
Washington barred Microsoft, Infosys and six others from green-card sponsorship. Pending cases stopped too.
Every story here is open to read. The ERP LEADERS brief goes one step further.
The day in enterprise software, in one email: the stories that matter, the failures with their figures, one case taken apart. Read a sample or sign up for the brief.
Welcome back. · Issue 01
