Infosys ADRs drop after company trims annual growth forecast
INFY•Infosys cut its FY27 revenue growth forecast to 1%-2% from 1.5%-3%, and its U.S.-listed shares fell 7.9% in premarket trading. Q2 revenue was $5.19 billion, slightly above analysts’ $5.17 billion estimate.
1. Forecast trimmed
Infosys lowered its FY27 revenue growth forecast to 1%-2% from its previous range of 1.5%-3%. Its U.S.-listed shares fell 7.9% to $12.20 in premarket trading, putting them on track for their steepest one-day drop in more than four months if losses hold.
2. Quarterly revenue
Infosys reported Q2 revenue of $5.19 billion, slightly above analysts’ estimate of $5.17 billion. The article says the rise of AI has hurt the Indian IT industry, forcing companies to overhaul business models and offer steep discounts. Infosys shares were down 25.8% year to date as of the previous close.
