Leveraging Infosys Cobalt to deliver industry-leading infrastructure-managed services BENGALURU, India, May 14, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB's IT infrastructure services. Headquartered in Abu Dhabi with a strategic global footprint across ...

This multi-year technology association will provide in-race insights, fan engagement, and sustainability solutions for the world's first all-electric motorsport BENGALURU, India, May 9, 2024 /PRNewswire/ -- Infosys (NSE : INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic three-year partnership with the ABB FIA Formula E World Championship, the global motorsport championship for electric cars, as its official Digital Innovation P ...

Leveraging Infosys Cobalt to drive Yunex Traffic's SAP S/4HANA transformation across 16 countries BENGALURU, India, May 8, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced its collaboration with Yunex Traffic, a global leader in intelligent traffic solutions, to help accelerate their SAP S/4HANA-led digital transformation journey across 16 countries, including the United States, United Kingdom, and Germany. ...

Infosys Cobalt cloud offerings and ServiceNow Now Assist to help enterprises increase productivity, enhance efficiency, and improve user experience The collaboration is currently enabling customers such as Carrier to address key business problems Infosys to double training investment, certifying more than 3,500 employees with ServiceNow GenAI skills LAS VEGAS, May 7, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, and S ...

BENGALURU, India, May 7, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has been certified with ISO 42001:2023, world's first international standard on AI management systems, by TUV India (part of TÜV Nord Group), a leading independent provider of technical quality and safety services. Infosys is among the first IT services companies globally to have earned the certification for implementing an Ar ...

Amanda Randles Awarded ACM Prize in Computing for Revolutionizing Medical Diagnostics NEW YORK, April 24, 2024 /PRNewswire/ -- ACM, the Association for Computing Machinery, has named Amanda Randles the recipient of the ACM Prize in Computing for groundbreaking contributions to computational health through innovative algorithms, tools, and high-performance computing methods for diagnosing and treating a variety of human diseases. Randles has developed computational tools to enable 3D blood flow simulations t ...

Infosys Limited (INFY) ended fiscal 2024 on a strong note with better-than-expected financial results for the fourth quarter. The company reported fourth-quarter fiscal 2024 earnings of 23 cents per share, beating the Zacks Consensus Estimate of 17 cents per share. The bottom line also improved 28.9% from the year-ago quarter’s earnings of 18 cents per share.The company’s fiscal fourth-quarter revenues marginally improved to $4.56 billion from the year-ago quarter’s revenues of $4.54 billion. The top line a ...

Financial Data and Key Metrics Changes - For Q4 FY '24, the year-on-year revenue growth was flat in constant currency and declined by 2.2% quarter on quarter [8][21] - The operating margin for Q4 was 20.1%, with a full-year operating margin of 20.7% [12][22] - Free cash flows for FY '24 increased by 14% to $2.9 billion, with Q4 free cash flows at $848 million, the highest in the last 11 quarters [25][28] - The company ended FY '24 with a consolidated cash and cash equivalents of $4.7 billion [26] Business Line Data and Key Metrics Changes - Large deals for FY '24 totaled $17.7 billion, with Q4 contributing $4.5 billion, marking the highest ever large deal value for the company [14][27] - The company reported strong traction in generative AI projects across various sectors, including software engineering and customer support [15][16] Market Data and Key Metrics Changes - The BFSI sector experienced a decline of about 3% to 4%, attributed to higher discretionary spending and exposure to softer mortgage markets [66] - Manufacturing showed double-digit growth, particularly in engineering and digital transformation areas [32] - Retail clients are leveraging generative AI for business value, with a focus on cost takeout [33] Company Strategy and Development Direction - The company aims for revenue growth guidance of 1% to 3% in constant currency for FY '25, with operating margin guidance of 20% to 22% [12][35] - Project Maximus, a comprehensive margin expansion program, is ongoing, focusing on value-based selling and automation [29][30] - The company is committed to ethical AI use and has achieved ISO 42001:2023 certification [16] Management's Comments on Operating Environment and Future Outlook - Management noted that discretionary spending and digital transformation work remain at similar levels, impacting revenue growth [41][42] - The outlook for FY '25 in financial services appears better, while manufacturing is expected to see slower growth compared to FY '24 [35][66] - Management emphasized the importance of large deal wins in supporting revenue growth for FY '25 [18][35] Other Important Information - Employee attrition decreased to 12.6%, down from 20.9% in the previous year [18] - The board declared a dividend of INR20 per share, along with a special dividend of INR8 per share, totaling an 85% payout of free cash flow [28] Q&A Session Summary Question: Concerns about revenue acceleration despite large deal signings - Management acknowledged the disconnect between large deal signings and revenue growth, attributing it to cautious client spending on digital transformation [41][42] Question: Guidance for FY '25 and learnings from previous misses - Management stated that guidance for FY '25 considers the current environment and incorporates learnings from past performance [55][57] Question: Impact of contract renegotiation on revenue - The impact of the contract renegotiation was clarified as a one-time revenue impact of over 1%, with 85% of the contract still retained [21][45][127] Question: Trends in utilization and wage hikes - Utilization increased to 82%, with management indicating that wage hikes will be assessed based on multiple factors, including market conditions [74][76] Question: Confidence in margin expansion - Management expressed a commitment to improving margins in the medium term, with ongoing efforts under Project Maximus [61][68] Question: Backlog trends and revenue conversion - Management confirmed no material backlog degradation, attributing slower revenue growth to discretionary spending reductions [93][94] Question: Future hiring strategy - Management indicated that hiring will be adjusted based on demand, with a focus on freshers and lateral hiring as needed [100][102]

For the quarter ended March 2024, Infosys (INFY) reported revenue of $4.56 billion, up 0.2% over the same period last year. EPS came in at $0.23, compared to $0.18 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $4.49 billion, representing a surprise of +1.62%. The company delivered an EPS surprise of +35.29%, with the consensus EPS estimate being $0.17.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...

FY25 guidance - revenue growth of 1%-3% and operating margin of 20%-22% BENGALURU, India, April 18, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered $18.6 billion in FY24 revenues with a growth of 1.4% in constant currency and operating margin of 20.7%. Free Cash Flow was strong at $2,882 million, an increase of 13.7% over FY 23. Large deal TCV for FY24 was highest ever at $17.7 billion, with 52% being net new. Q ...