{"id":47378,"date":"2020-01-10T06:03:40","date_gmt":"2020-01-10T11:03:40","guid":{"rendered":"https:\/\/44.250.171.167\/?p=47378"},"modified":"2023-05-02T09:59:54","modified_gmt":"2023-05-02T13:59:54","slug":"infosys-reports-8-6-revenue-growth-for-q3","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/infosys-reports-8-6-revenue-growth-for-q3\/","title":{"rendered":"Infosys beats Q3 earnings estimates; revenue comes in line"},"content":{"rendered":"\n

Infosys (NYSE: INFY<\/a>) reported better-than-expected earnings for the third quarter of 2020 while revenue matched forecasts. Shares were up 6.5% in premarket hours on Friday. <\/p>\n\n\n\n

Total revenues increased 8.6% year-over-year to $3.24 billion, coming in line with estimates. Revenues increased 9.5% in constant currency. <\/p>\n\n\n\n

\"Infosys<\/a><\/figure>\n\n\n\n

Net income was $627 million, or $0.15 per share, compared to $502 million, or $0.12 per share, last year. Analysts had forecast earnings of $0.14 per share. <\/p>\n\n\n\n

Nilanjan Roy, CFO, said \u201cOperating margins improved further\nduring the quarter driven by relentless cost optimization and operating\nleverage. Cash generation was extremely strong with cumulative free cash flow\ncrossing $1.5 billion. Return on Equity increased further to 25.9% driven by\nmargin expansion and increased shareholder payouts.”<\/p>\n\n\n\n

Digital revenues grew around 40% year-over-year to $1.31 billion while core revenues fell nearly 6% to $1.92 billion. Large deal signings during the quarter amounted to $1.8 billion. <\/p>\n\n\n\n

Also read: Constellation Brands Q3 2020 Earnings Report<\/a><\/strong><\/p>\n\n\n\n

The number of $100 million-clients totaled 28 at the end of\nthe quarter and the number of $50 million-clients amounted to 61. The top 25\nclients contributed 34.2% to total revenues during the quarter. <\/p>\n\n\n\n

Operating profit increased 5.4% year-over-year to $711\nmillion. Operating margin was 21.9%. <\/p>\n\n\n\n

For fiscal year 2020, the company expects revenue to grow\n10-10.5% in constant currency. Operating margin is expected to grow 21-23%. <\/p>\n\n\n\n

In a separate press release, Infosys stated that its audit committee found no evidence of financial impropriety or executive misconduct during its investigation related to whistleblower complaints. <\/p>\n\n\n\n

Get access to timely and accurate verbatim transcripts that are published within hours of the event.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Infosys (NYSE: INFY) reported better-than-expected earnings for the third quarter of 2020 while revenue matched forecasts. Shares were up 6.5% in premarket hours on Friday. Total revenues increased 8.6% year-over-year to $3.24 billion, coming in line with estimates. Revenues increased 9.5% in constant currency. Net income was $627 million, or $0.15 per share, compared to […]<\/p>\n","protected":false},"author":12,"featured_media":27125,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,6349,8],"tags":[5075,6100],"class_list":["post-47378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-transcripts","category-technology-stocks","tag-it-services","tag-software-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":88645,"url":"https:\/\/alphastreet.com\/india\/infosys-infy-q3-earnings-key-numbers-and-performance\/","url_meta":{"origin":47378,"position":0},"title":"Infosys (INFY) Q3 Earnings: Key numbers and performance","author":"Shreya","date":"January 13, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) reported third-quarter 2021 earnings results Wednesday. Revenue increased to $3.5 billion from $3.2 billion last year. Analysts had expected revenue of $3.38 billion. The net profit rose to $705 million from $626 million, while earnings per share increased from $0.15 to $0.17, compared to analysts' estimate\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/01\/Infosys-Q3-2021-earnings-infograph.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":65860,"url":"https:\/\/alphastreet.com\/india\/key-highlights-from-infosys-infy-q1-2021-earnings-results\/","url_meta":{"origin":47378,"position":1},"title":"Key highlights from Infosys (INFY) Q1 2021 earnings results","author":"Staff Correspondent","date":"July 15, 2020","format":false,"excerpt":"Infosys (NYSE: INFY) reported earnings results for the first quarter of 2021 today. Revenues declined 0.3% to $3.12 billion. Net profit after minority interest was $558 million while diluted EPS was $0.13. The company expects revenue growth in the range of 0-2% in constant currency for fiscal year 2021 while\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Infosys reports Q1 2021 earnings results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":74713,"url":"https:\/\/alphastreet.com\/india\/infosys-infy-q2-earnings-key-financials-and-quarterly-highlights\/","url_meta":{"origin":47378,"position":2},"title":"Infosys (INFY) Q2 Earnings: Key financials and quarterly highlights","author":"Staff Correspondent","date":"October 14, 2020","format":false,"excerpt":"Infosys (NYSE: INFY) reported second quarter 2021 earnings results today. Revenues rose 3.2% year-over-year to $3.31 billion. Net profit amounted to $653 million, or $0.15 per share, compared to $569 million, or $0.13 per share, last year. The company expects revenues to grow 2-3% in constant currency for FY2021. 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