Wipro Shares Rise After 3Q Report, 4Q Outlook
By Dean Seal
Wipro's American depositary receipts rose after the company posted fiscal third-quarter results that were in line with analyst forecasts.
The stock was up 16.7% at $6.27 in recent trading. Shares are now up 12.5% from where they started the year and were trading at around $4.84 this time last year.
The IT services provider posted $2.67 billion in revenue for the quarter ended Dec. 31, slightly higher than analysts had been expecting, according to FactSet, while earnings of 6 cents a share were in line with analyst projections.
The company said it expects $2.62 billion to $2.67 billion in revenue from its IT business for the fiscal fourth quarter, which ends March 31.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 12, 2024 10:32 ET (15:32 GMT)
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