Infosys (INFY) lifted its revenue guidance, signaling increased spending from the information technology services provider’s customers.
The company said Thursday it expects full-year revenue growth for fiscal 2025 to be in the range of 3% and 4% in constant currency, up from its earlier outlook of a rise between 1% and 3%.
For the fiscal first quarter, Infosys reported that revenue rose 2.5% in constant currency to $4.71 billion, while net profit after minority interest increased 5.4% to $763 million. Both figures exceeded analysts’ estimates.
“With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients,” Infosys CEO Salil Parekh said.
American depositary receipts (ADRs) of Infosys were up about 8% in midday trading Thursday, bucking a broader market downturn. The stock has gained 23% so far this year.
TradingView
The improved outlook comes as companies increase spending to …