India's Infosys beats profit estimates as client spending rises

Indian IT giant Infosys raised its annual revenue guidance Thursday after reporting a 7.1 percent on-year rise in net profit for the June quarter, signaling a gradual revival in client spending. Infosys bumped constant-currency revenue guidance for the current financial year to 3-4 percent, up from an earlier forecast of 1-3 percent. Parekh added that Infosys was seeing "early signs of improvement" for its financial services arm in the United States. Infosys, which has over 300,000 employees, upset markets ...