Infosys Beats On Q1 Earnings, Raises FY22 Outlook

Infosys Ltd INFY reported first-quarter FY21 revenue growth of 21.2% year-on-year to $3.78 billion, beating analyst consensus ($3.69 billion) by 2.5%.
Revenue from software services rose 20.7% year-on-year to $3.5 billion. Revenue from products and platforms increased 28.1% Y/Y to $278 million.
The gross margin remained flat at 33.7%, while the operating margin expanded 101 basis points to 23.7%.
EPS of $0.17 was at par with analyst consensus.
INFY held $3.5 billion in cash and equivalents, and the company generated $932 million in operating cash flow.
Outlook: The company raised the FY22 revenue growth guidance from the previous 12%-14% to between 14%-16%.
Price action: INFY shares traded higher by 3.80% at $21.85 in the premarket session on the last check Wednesday.

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