Wipro (WIT) Reports In-Line Q2 EPS of 14c

Wipro (NYSE: WIT) reported Q2 EPS of $0.14, in-line with the analyst estimate of $0.14. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.93 billion.

Azim Premji, Chairman of Wipro, said, “Business leaders in the US continue to exhibit increased confidence on growth prospects. Clients are increasingly looking to drive business value from their technology investments. We are seeing positive sentiment in India with the confidence that the Government is focused on driving an agenda of growth.”

T K Kurien, Executive Director & Chief Executive Officer of Wipro, said, “While the industry landscape is still undergoing change, we see multiple opportunity spaces for growth and gaining market share. We continue to execute to our stated strategy of leveraging platforms for non-linear growth and creating differentiated solutions around the new technology paradigms.”

Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said – “In Q2, we continued to build on our leadership position in Infrastructure Services and continued the momentum of deal wins. During the quarter, the benefits of rupee depreciation were negated by the US Dollar’s appreciation against other major currencies. We continued to drive productivity and improving operating levers even as the effect of salary hike on this quarter’s Operating Margin was on expected lines.”

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

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