Wipro's Q2 Revenue Falls Short Of Expectations, CEO Highlights Growth In Large Accounts
Portfolio Pulse from Anusuya Lahiri
Wipro Limited's Q2 revenue fell short of expectations, reporting $2.71 billion against the consensus of $2.77 billion. EPS also missed the consensus at $0.06. IT Services revenue declined by 2.3% Q/Q. However, the company highlighted growth in large accounts, with 22 accounts above the $100M range. Wipro's Q3 outlook for IT Services business revenue is between $2.617 billion and $2.672 billion.
October 18, 2023 | 3:25 pm
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NEGATIVE IMPACT
Wipro's Q2 earnings missed expectations, with a decline in IT Services revenue. However, the company highlighted growth in large accounts. The Q3 outlook for IT Services revenue is lower than the previous quarter.
Wipro's Q2 earnings fell short of expectations, which is likely to negatively impact investor sentiment and potentially the stock price. The decline in IT Services revenue is a concern, as this is a key business segment for the company. However, the growth in large accounts could offset some of this negative impact. The Q3 outlook for IT Services revenue is lower than the previous quarter, which could further dampen investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100