Infosys Q3 Sales Comes Ahead of Consensus, Raises FY22 Revenue Outlook

By Benzinga
Benzinga
Benzinga
January 12, 2022 Updated: January 12, 2022

Infosys Ltd. reported third-quarter FY22 revenue of $4.25 billion, beating the consensus of $4.08 billion. The company’s Q3 performance represented sequential growth of 7.0 percent in a seasonally weak quarter and a year-on-year increase of 21.5 percent in constant currency.

Large deal wins accelerated with TCV of $2.53 billion in Q3.

Digital revenue grew 41 percent Y/Y to $2.48 billion, while Core revenue stood at $1.76 billion.

The operating margin decreased from 25.4 percent to 23.5 percent. EPS of $0.18 was at par with analyst consensus.

Infosys held $2.15 billion in cash and equivalents. Free cash flow was $719 million.

Outlook: Infosys raised the FY22 revenue growth guidance to 19.5 percent – 20.0 percent, up from the previous guidance of 16.5 percent – 17.5 percent.

By Vandana Singh 

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