Wipro Reports Good Start to Fiscal Year; Digital and Consulting a Positive; INR Shares Undervalued
Wipro reported a good start to the fiscal year with revenue outperforming expectations. IT services sales for the quarter were $1.972 billion (ahead of management’s guidance of $1.915 billion-$1.955 billion) and were driven by broad-based demand across industries. However, management did note continued weakness in its healthcare and communications practices that remain in their “uncertain zone†over the short term. Like its peers, Wipro is seeing good demand for its digital transformation busine...
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