Wipro (WIT) Misses Q1 EPS by 2c

Wipro (NYSE: WIT) reported Q1 EPS of ~$0.12, $0.02 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.02 billion.

Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board, said, “We have delivered Revenues in line with our guidance. Our early investments in areas such as our Digital practice and cognitive intelligence, notably Wipro HOLMESis positioning as the partner of choice for customers in the CHANGE side of their business. We expect the trajectory of growth to build gradually over the course of the year as we drive execution on our strategic themes and make progress towards achieving a sustainable growth trajectory” \Jatin Dalal, Chief Financial Officer, said – “IT Services margins reflect the investments in rewarding our employees as well as the impact of consolidation of our acquisitions for the full quarter. We continue to expand the reach of our automation programs to harness efficiency gains.”

For the quarter ended September 30, the company expect revenues from their IT Services business to be in the range of $ 1,931 million to $ 1,950 million.

For earnings history and earnings-related data on Wipro (WIT) click here.

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