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.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

StreetBeat Disclaimer

Distributed by Viestly

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.

StreetBeat Disclaimer

Distributed by Viestly