Market Overview

Infosys Trades Higher On Raised Guidance

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Infosys (NYSE: INFY) reported first-quarter revenues grew year-on-year by 10.6% and revenues grew by 2.3%.

The company's first quarter digital revenues were at $1.1 billion, which is a year-over-year growth of 41.9%.

Infosys raised its full-year sales growth guidance from 7.5%-9.5% to 8.5%-10%.

“We had a strong start to FY 20 with constant currency growth accelerating to 12.4% on year over year basis and digital revenue growth of 41.9%. This was achieved through our consistent client focus and investments which have strengthened our client relationships,” said Salil Parekh, the CEO of Infosys in a statement.

Infosys shares were trading up 3.8% at $11.13 in Friday’s pre-market session.The stock has a 52-week high of $11.38 and a 52-week low of $8.85.

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