Wipro Earnings: Everything You Must Know Now
Wipro Ltd. (NYSE:WIT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Wipro Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.11 in the quarter as EPS of $0.11 in the year-earlier quarter.
Revenue: Decreased 13.44% to $1.64 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wipro Ltd. reported adjusted EPS income of $0.11 per share. By that measure, the company met the mean analyst estimate of $0.11. It missed the average revenue estimate of $1.81 billion.
Quoting Management: T K Kurien, Executive Director & Chief Executive Officer of Wipro, said – “We are seeing a pickup in large deal closures which has reflected in strong order book in the current quarter. Our clients look to technology to pursue growth and profitability and increase organizational agility.”
Key Stats (on next page)…
Revenue increased 59.9% from $1.02 billion in the previous quarter. EPS decreased 15.38% from $0.13 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.11 and has not changed. For the current year, the average estimate is a profit of $0.47, which is the same with that ninety days ago.