Infosys Gains 4% Following In-Line Q4 Report

Shares of Infosys Ltd ADR INFY were trading higher by more than 4 percent early Friday morning after the company reported its fourth-quarter results.

Infosys said it earned $0.23 per share in the fourth quarter on revenue of $2.446 billion. Wall Street analysts were expecting the company to earn $0.23 per share on revenue of $2.43 billion.

Net profit for the quarter rose to $533 million from $498 million in the same quarter a year ago. The company's attrition rate fell to 17.3 percent from 18.1 percent in the prior quarter.

Infosys added that its clients in the $100 million-plus category rose to 14 from 13, and it added 3 clients in the $75 million-plus category. Total active clients in the quarter rose to 1,092 from 1,045 in the prior quarter.

Looking forward to fiscal 2017, the company expects to grow its revenue by 11.5 percent to 13.5 percent in constant currency and 11.8 to 13.8 percent in dollar terms.

Vishal Sikka, CEO & MD of Infosys said:

The world of our future looks entirely different – it is a world that is being fundamentally reshaped by digital technologies, and it is our endeavor to create great value for every business through solutions built on our artificial intelligence technology and open, cloud platforms, to have Infoscions amplified by intelligent technology, to bring purposeful innovation to life, and in that sense, we are still very much at the beginning of this journey.