Infosys' 1Q Results Disappoint, With Lower Sales and Higher Attrition; Seek Wider Margin to Invest
Infosys surprised the market by releasing less-than-appealing first-quarter financial results, with weaker-than-expected sales and a disconcerting jump in employee attrition the primary concerns. The company noted that its top line was affected by unanticipated headwinds in discretionary spending in consulting services and packaged implementations as well as slower project ramp-ups. We believe most of the sales issues were self-inflicted and the macroeconomic uncertainty of Britain's exit from t...
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