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- Infosys Ltd INFY reported second-quarter FY23 revenue growth of 18.8% year-on-year to $4.56 billion (CC), beating the consensus of $4.53 billion.
- The Q2 sequential growth was 4%. TCV of significant deal win was $2.7 billion, the highest in the last seven quarters.
- Digital revenue grew 31.2% Y/Y to $2.82 billion, while Core revenue stood at $1.74 billion.
- The operating margin expanded 150 bps sequentially to 21.5%. EPS of $0.18 was in line with the consensus.
- Infosys held $3.28 billion in cash and equivalents.
- Dividend & Buyback: The Board proposed an interim dividend of $0.20 per ADS, increasing 10% Y/Y, and an open market share buyback of $1.13 billion.
- "Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation", said Salil Parekh, CEO, and MD.
- FY23 Revenue Outlook: Infosys narrowed the growth guidance to 15% - 16% from the previous 14% - 16% CC.
- Price Action: INFY shares closed lower by 0.18% at $17.10 on Wednesday.
- Photo Via Company
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