Infosys Down 10% on Disappointing Guidance
Infosys (NASDAQ: INFY) is trading lower on the session following its Q1 earnings announcement. The company reported an EPS of $0.73 vs $0.73 estimates and revenues of $1.75 billion. Infosys also announced its FY13 EPS will be at least $3.03 vs $3.09 estimates.
S. D. Shibulal, CEO and Managing Director stated, "Our focus on Infosys 3.0 and building tomorrow's enterprise coupled with disciplined execution will help us deliver high-quality growth, despite challenges seen in the global economic situation resulting in slower IT spends by large corporations."
Infosys is currently trading at $39.06, a loss of $4.56 or 10.45%.
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