Wipro Ltd. (NYSE: WIT) reported revenue rose 1.1% year over year in constant currency to $2.78 billion in its fiscal first quarter ended June 30. Looking at just Wipro’s IT services revenue, it was up 1.1% year over year on a constant currency basis. However, IT services revenue in part of the company’s Americas operations slipped.

“Our ongoing focus on operational improvement has ensured that margin remains steady even in a softening revenue environment,” CFO Jatin Dalal said in a press release.

First-quarter operating margin was 16%, up from 14.9% in the year-ago quarter, Dalal noted.

Wipro reported revenue in its “Americas 1” segment was up 1.5% in constant currency in the first quarter, but revenue fell 2.7% in constant currency in its “Americas 2” segment.

Americas 1 includes US-based customers in the following industries: healthcare and medical devices, consumer goods, life sciences, retail, transportation and services, communication, media, information services, technology products, and platforms. It also includes all of Latin America.

Americas 2 includes US-based customers in banking, financial services, insurance, manufacturing, high tech, energy and utilities. It also includes all of Canada.

IT services’ first-quarter revenue in Europe rose by 4.1% in constant currency, while first-quarter revenue in Asia Pacific, the Middle East and Africa rose by 3.1% in constant currency.

Profit for the period rose 12.8% in Indian rupees to 28.86 billion Indian rupees (US$351 million).

Guidance

Wipro forecast second-quarter IT services revenue will range from a decrease of 2.0% to an increase of 1.0% from the first quarter on a constant currency basis with revenue totaling between $2.72 billion and $2.81 billion.

Share price and market cap

Shares in Wipro were up 1.16% on the New York Stock Exchange to $4.80 as of 12:21 p.m. Eastern time; they were 11.0% above their 52-week low, according to FT.com. The company had a market cap of $24.82 billion.