Wipro Grows Q3 Revenue By Over 14% Backed By IT Services Momentum

  • Wipro Limited 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
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceDividendsTechBriefsEurasia
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!