Infosys, India's leading IT firm, experienced a 2.7% decline in its stock price due to a significant reduction in its fiscal 2027 revenue growth guidance from 1% to 2%. The company's revenue growth expectation was higher than market expectations, indicating a substantial change in the company's financial outlook. Analysts' initial expectations were for a 1.5% to 3% growth, signaling challenges in the company's North American business, which could impact its overall growth strategy.
Oct 26 : Shares of IT firm Infosys fell 2.7 per cent in early trading on Monday after the company cut its fiscal 2027 revenue growth forecast more than expected and reported weakness in its North America business.
The company cut its fiscal 2027 revenue growth forecast to 1 per cent-2 per cent from 1.5 per cent-3 per cent, while most analysts had expected it to trim only the upper end of the range to 2.5 per cent.
Source: Reuters
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