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View All NewsInfosys revenue up nearly 22%; growth is broad-based
Infosys (NYSE: INFY), the Bengaluru, India-based global IT services giant, reported revenue rose 21.5% in constant currency in its fiscal third quarter ended Dec. 31. Growth was broad-based in the seasonally weak quarter amid digital transformation happening across industry verticals and regions. It also reported large-deal wins accelerated in the quarter.
“We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations,” Infosys CEO and Managing Director Salil Parekh said.
| (US$ millions) | Q3 2022 | Q3 2021 | % change | % constant currency |
| Revenue | $4,250 | $3,516 | 20.9% | 21.5% |
| Gross profit | $1,394 | $1,241 | 12.3% | |
| Gross margin percentage | 32.8% | 35.3% | ||
| Net profit | $774 | $705 | 9.8% |
CFO Nilanjan Roy reported the company plans to hire more than 55,000 new graduates globally in this fiscal year.
Guidance
Infosys updates its forecast revenue growth for the full fiscal year to be between 19.5% and 20.0%.
Share price and market cap
Shares in Infosys were up 3.18% to $25.82 on the NYSE as of 1:45 p.m. Eastern time today, according to FT.com. The company had a market cap of $105.06 billion.