Infosys Announces Strong Q3 Results with Revenue Growth
YoY Revenue Growth and Stable Guidance
Q3 2023 Performance Highlights
Infosys, a leading global IT services company, has announced its financial results for the third quarter ended December 31, 2023. The company reported strong growth in revenue and maintained its revenue growth guidance for the full year.
Key highlights for the quarter include:
- Revenue growth of 13.4% year-over-year (YoY) to ₹65,860 crore ($8.3 billion)
- Quarterly growth (QoQ) of 3.8%
- Digital revenues accounted for 63.2% of total revenue
- Operating profit margin expanded by 1.3% to 21.5%
- Net profit increased by 13.4% to ₹5,686 crore ($716 million)
Stable Revenue Guidance
Despite economic uncertainties, Infosys maintained its revenue growth guidance for the full year. The company expects revenue to grow by 16%-17% in constant currency terms.
Strong Growth Drivers
Infosys attributed its strong performance to several growth drivers, including:
- Increased demand for digital transformation services
- Focus on cloud computing and artificial intelligence
- Expansion in key markets such as North America and Europe
- Cost optimization initiatives
Positive Analyst Outlook
Most analysts have expressed positive views on Infosys' Q3 results. The company's strong revenue growth, stable guidance, and focus on digital transformation have boosted investor confidence.
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