- Wipro Limited (NYSE:WIT) reported third-quarter FY23 gross revenue of $2.80 billion, an increase of 14.4% Y/Y, missing the consensus of $2.84 billion.
- IT Services revenue grew 6.2% Y/Y to $2.80 billion. Non-GAAP constant currency IT Services segment revenue grew 10.4% Y/Y.
- IT Services' operating margin for the quarter was 16.3%, up 120 bps Q/Q.
- Net income was $369.1 million. Operating Cash Flow was at $526 million, up 44.7% Y/Y.
- EPS of $0.07 was in-line with the consensus.
- Wipro held $1.1 billion in cash and equivalents as of December 31.
- Dividend: Wipro declared an interim dividend of $0.012 per equity share/ADS.
- FY23 Outlook: Wipro sees IT Services business revenue of 11.5% - 12.0% in constant currency terms.
- Price Action: WIT shares closed higher by 1.04% at $4.84 on Thursday.
- Photo Via Company
Wipro Grows Q3 Revenue By Over 14% Backed By IT Services Momentum
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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