Infosys (Nasdaq: INFY) Stock Down More Than 12% After Mixed Q1

Atlanta, GA 7/12/12 (StreetBeat) -- Shares of Infosys (Nasdaq:INFY), an India-based provider of information technology services, were down more than 12% early Thursday, at three-year lows, after the outsourcer delivered mixed results for its fiscal first quarter and lackluster guidance.

For the quarter ended June 30, Infosys reported a per-share profit minus items of 73 cents, in line with analyst expectations. That's up 9% from 67 cents in the year-earlier quarter.

But its revenue missed. The company said sales rose 4.8% to $1.75 billion, shy of the $1.77 billion consensus forecast of analysts polled by Thomson Reuters.

And for the fiscal year ended March 31, Infosys said it expects a per-share profit of $3.03, up slightly from $3 the prior year but short of the $3.09 that analysts had been expecting.

Infosys says it expects revenue of $7.34 billion, up 5% but short of the $7.46 billion analysts were modeling.

The company, as usual, is the first of the bigger tech companies to report results for the quarter ended June 30. Because of economic woes in Europe, slowing growth in China, problems in the financial service sector and other macroeconomic concerns, the June quarter results could face challenges. Already in the past two months companies such as Informatica (Nasdaq:INFA) and Dell (Nasdaq:DELL) have mentioned head winds in Europe. Here's our recent report on Informatica.

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LargeCap Stocks to Watch Today

Tomahawk, WI 4/13/2012 (StreetBeat) -- Google (GOOG), the Internet search giant, posted strong quarterly earnings and announced a two-for-one stock split.

Google reported first-quarter earnings of $10.08 a share on revenue of $8.14 billion, excluding traffic acquisition costs. Total revenue came in at $10.65 billion. Revenue in the U.S. rose 22% year over year to $4.9 billion, while revenue outside the U.S. jumped 26% to $5.8 billion.

Analysts were expecting revenue of $8.146 billion, excluding traffic acquisition costs, and earnings of $9.65 a share.

Google also said it would be creating a new class of stock, effectively issuing a stock split that is "designed to preserve the corporate structure that has allowed Google to remain focused on the long term."

On a conference call, CEO Larry Page said that many investors have asked for a stock split, and this effectively grants it to them.

JPMorgan Chase (JPM) and Wells Fargo (WFC) report their quarterly earnings Friday before the opening bell.

Analysts expect JPMorgan to post first-quarter earnings of $1.18 a share on revenue of $24.68 billion, while Wells Fargo is seen posting profit of 73 cents a share in the March-ended period on revenue of $20.46 billion.

Infosys Technologies (INFY), the Indian software services company, said fourth-quarter profit rose 15.2% in dollar terms and sales jumped 10.5%, but revenue for fiscal 2013 would rise only 8% to 10%, below forecasts for the industry.

Dow Chemical (DOW) raised its second-quarter dividend by 28% to 32 cents a share from 25 cents.

The dividend will be paid on July 30.

Coinstar (CSTR), whose businesses include the Redbox DVD rental kiosks, provided a first-quarter outlook above analysts' estimates.

Coinstar said it sees core earnings from continuing operations of $1.36 to $1.40 a share on revenue of $567 million to $569.2 million for the three months ended March 31. Analysts are calling for profit of 90 cents a share on revenue of $537.7 million.

Coinstar attributed the forecast, in part, to strong DVD demand from consumers in February and March.

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Infosys (Nasdaq: INFY) FY Q3 In Line; Shrs Fall On Weak March Qtr View

Tallahassee, FL 1/12/12 (StreetBeat) -- Infosys (Nasdaq: INFY) shares are trading sharply lower this morning after the IT services provider posted in line results for the fiscal third quarter ended December 31, while offering disappointing guidance for the March quarter.

For Q3, Infosys posted revenue of $1.806 billion, with profits of 80 cents a share; the Street had been projecting $1.81 billion and 80 cents. Revenue were up 3.4% sequentially, and 13.9% year-over-year. The company added 9,655 staff on a gross basis, or 3,266 on a net basis.

For Q4, the company sees revenue of $1.806 billion to $1.81 billion, below the previous Street consensus at $1.88 billion, with profits of 81 cents a share, below the Street at 84 cents.

For the full year, the company sees revenue ranging from $7.029 billion to $7.033 billion, with profits of $3 a share. Previous consensus was $7.07 billion and profits of $2.99 a share.

“The global economy, driven by slower growth in developed markets coupled with the European crisis, could impact the growth of the IT industry,” CEO S. D. Shibulal said in a statement. “Notwithstanding short-term challenges, we are focused on long-term growth opportunities by investing in platforms and solutions – which will accelerate innovation, enhance returns for our clients and deliver higher business value.”

INFY this morning is down $5.47, or 9.6%, to $51.40.

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