Infosys Earnings: Headwinds With High Tech and Retail Should Be Temporary; Fundamentals Still Solid
Infosys' second-quarter revenue grew 1.5% year over year in constant currency. High tech and retail both faced strong headwinds, with revenue dropping 17% and 8% year over year. Management also cut full-year revenue growth guidance by 75 basis points at the midpoint to 1%-2%. Shares were down 5%.