There were signs of a return to growth in consulting at global IT services firm Wipro Ltd. (NYSE: WIT), CEO and Managing Director Theirry Delaporte said in a press release. Commenting on Wipro’s fiscal third quarter, Delaporte also noted that while the quarter is seasonally soft, deal-booking momentum was strong.

Still, Wipro’s revenue fell 6.9% in constant currency to $2.66 billion in its third quarter ended Dec. 31, 2023; the decline was 4.4% when measured in Indian Rupees. However, Reuters reported revenue beat analysts’ expectations.

Headcount at Wipro decreased by 22,392 people year over year in the third quarter to 240,234. In addition, the number of active customers fell to 1,349 in the third quarter from 1,479 in the year-ago quarter.

Wipro geographic growth

Americas revenue represents 61% of total revenue at the IT services firm. Wipro noted its “Americas 1” IT services revenue edged up 0.1% year over year in constant currency, while “Americas 2” revenue fell 8.0% in constant currency.

Americas 1 includes Wipro’s US healthcare, consumer goods, life sciences, retail, transportation, media and information services businesses as well as all sectors in Latin America.

Americas 2 revenue represents Wipro’s financial services and insurance, manufacturing, high-tech, energy and utilities businesses in the US as well as all sectors in Canada.

European IT services revenue fell 12.7% year over year in constant currency, while Asia Pacific, Middle East and Africa revenue fell 7.4%.

Share price

Wipro shares on the New York Stock Exchange were up 18.62% to $6.37 as of 12:03 p.m. Eastern time today. They set a new 52-week high during trading today when they reached $6.37.