Wipro Beats Revenue Expectations In Q4, Anticipates Steady Growth Driven By Tech Demand
Portfolio Pulse from Anusuya Lahiri
Wipro Ltd (NYSE:WIT) reported Q4 results with gross revenue of $2.67 billion, surpassing the $2.65 billion consensus, and an EPS of 7 cents, aligning with expectations. Despite a 6.4% Y/Y decline in IT Services revenue, the company anticipates steady growth, projecting Q1 IT Services revenue between $2.617 billion and $2.670 billion. Wipro's stock rose 3.5% following the announcement, and it is also accessible through VanEck Digital India ETF (NYSE:DGIN) and ALPS Emerging Sector Dividend Dogs ETF (NYSE:EDOG).
April 19, 2024 | 2:17 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
VanEck Digital India ETF, which includes Wipro in its holdings, may see a positive impact from Wipro's earnings beat and growth outlook.
Given that DGIN provides exposure to Wipro, the company's strong performance and positive outlook are likely to have a favorable effect on the ETF's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
ALPS Emerging Sector Dividend Dogs ETF, which includes Wipro, may benefit from Wipro's positive earnings report and future revenue projections.
As EDOG includes Wipro among its holdings, the company's earnings beat and optimistic revenue forecast for the next quarter are expected to positively influence EDOG's performance in the near term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Wipro Ltd reported higher than expected Q4 revenue and anticipates steady growth, with shares rising 3.5%.
The positive earnings report and the anticipation of steady growth based on the Q1 outlook are likely to instill confidence in investors, contributing to a short-term positive impact on Wipro's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100