Wipro Q2 Earnings: IT Services Revenue Decline 2%, Proposes 1:1 Stock Bonus
Portfolio Pulse from Anusuya Lahiri
Wipro Ltd (NYSE:WIT) reported a 2% decline in IT Services revenue for Q2, with gross revenue slightly below analyst expectations. Despite a 21.3% increase in net income, the stock slid due to the revenue miss. The company proposed a 1:1 stock bonus, subject to shareholder approval.
October 17, 2024 | 12:57 pm
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NEGATIVE IMPACT
Wipro's Q2 earnings report showed a 2% decline in IT Services revenue, missing analyst expectations. Despite a rise in net income, the stock fell due to the revenue miss. A 1:1 stock bonus is proposed.
Wipro's revenue miss and decline in IT Services revenue are negative indicators, leading to a stock price drop. The proposed stock bonus could be a positive long-term factor but doesn't offset the immediate negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100