Infosys misses by INR0.11, misses on revs :
- Reports Q1 (Jun) earnings of $15.03 per share, INR0.11 worse than the Capital IQ Consensus of INR15.14; revenues rose 16.9% year/year to INR167.82 bln vs the INR170.67 bln Capital IQ Consensus.
- Added 3 clients to $100 million + category taking total count to 17
- Co Commentary "We had unanticipated headwinds in discretionary spending in consulting services and package implementations as well as slower project ramp-ups in large deals that we had won in earlier quarters, resulting in a lower than expected growth in Q1..."
- Co issues guidance for FY17, sees FY17 revs of +13.7-15.2% (in INR terms as of June 30), compared to +14.5% YoY growth (INR714.79 bln) Capital IQ Consensus Estimate.
- The above constant currency guidance translates to 11.7%-13.2% in INR terms based on March 31st rates and 13.7%-15.2% based on June 30th rates
- FY 17 revenue guidance revised to +10.5%-12.0% in constant currency; translates to 10.8%-12.3% in USD terms based on March 31st rates and 10.0%-11.5% based on June 30th rates, compared to prior expectation of +11.5-13.5% in constant currency and increase between +11.8-13.8% in dollar terms based on the exchange rate at the end of March.
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