Wipro (NYSE: WIT) reported Q3 EPS of $0.06, $0.01 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $2.14 billion versus the consensus estimate of $2.09 billion.

Outlook for the Quarter ending March 31, 2018

We expect Revenues from our IT Services business to be in the range of $2,033 million to $2,073 million*.

GUIDANCE:

Wipro sees Q4 2018 revenue of $2.033-2.073 billion, versus the consensus of $2.17 billion.

Highlights of the Results

• Gross Revenue of Wipro Limited was Rs 136.7 billion ($2.1 billion1).
• IT Services Segment Revenue in Non-GAAP constant currency increased by 0.9% sequentially, in line with our Guidance.
• IT Services Segment Revenue in dollar terms was $2,013.0 million, remaining flat sequentially and increasing by 5.8% YoY.
• IT Services Margin for the quarter was 14.8%, impacted by a provision of Rs 3,175 million ($49.7 million1) made with respect to insolvency of a customer post the balance sheet date. Adjusted for this event, IT Services Margin for the quarter was 17.2%.
• Net Income3 for the quarter was Rs 19.4 billion ($303 million1), a decrease of 8.2% YoY. Adjusted for the customer insolvency event, Net Income3 for the quarter increased by 4.0% YoY.
• Wipro declared an interim dividend of Rs 1 ($0.021) per share/ADS.

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