Infosys profit up 5 percent, misses expectations
10/12/2012 4:39:03 AM
(AP) Infosys profit up 5 percent, misses expectations
AP Business Writer
India's Infosys says profits rose 4.9 percent in dollar terms for the September quarter, missing expectations as its global clients struggle with economic uncertainty.
Net income for the September quarter was $431 million. Revenue grew 2.9 percent from a year earlier to $1.78 billion.
Analysts surveyed by FactSet had forecast net income of $444.6 million on revenue of $1.86 billion.
The outsourcing bellwether says revenue for the year ending in March will likely grow 5 percent in dollar terms, to at least $7.34 billion. Adjusting for currency fluctuations, its revenue growth forecast is about 0.3 percentage point lower than its July projection.