- The stock price of Infosys Ltd (NYSE: INFY) increased by 2.92% today. This is why it happened.
The stock price of Infosys Ltd (NYSE: INFY) increased by 2.92% today. Investors are responding positively to the company’s third-quarter performance.
For the quarter, Infosys delivered sequential growth of 7% in a seasonally weak quarter and year-on-year growth of 21.5% in constant currency. And growth remained broad-based and deal momentum robust, with digital transformation rapidly scaling across verticals and regions. The large deal wins accelerated with TCV of $2.53 billion in the third quarter.
The operating margin for the quarter was 23.5% with Free Cash Flow conversion at 92.6%. And the talent strategy continued to be a key focus area marked by efforts to further strengthen employee skilling and well-being while nurturing the workforce to fulfill client requirements.
“Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us. This is reflected in an upgrade in our revenue guidance to 19.5%-20.0% for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations. I am immensely proud of the relentless commitment of our employees during these challenging times and grateful for their extraordinary efforts in delivering success for our clients.”
— Salil Parekh, CEO and MD
“Despite the cost escalations driven primarily by supply-side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage, and a stable pricing environment. We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions.”
— Nilanjan Roy, Chief Financial Officer
“A large proportion of our IT energy consumption comes from our data centers which require significant power for computing and cooling. That’s why we’re transforming our data centers with the support of our partner Infosys, bringing particularly the high-performance computing into one energy-efficient solution at Lefdal Mine Datacenter. Not only will we benefit from natural cooling thanks to the cold weather, our operations will also be run on 100% green energy. This initiative marks another important milestone on our journey to becoming CO2 neutral.”
— Jan Brecht, Chief Information Officer, Daimler and Mercedes-Benz
Infosys integrated its flagship human-centric digital commerce platform, Infosys Equinox, with Packable IQ (Packable’s proprietary e-commerce platform) to help strengthen Packable’s ability to offer its brand partners an engaging, innovative, and agile Direct to Consumer platform (D2C): “D2C-in-a-box. We’re thrilled to partner with Infosys. This exciting partnership marks another milestone in the execution of Packable’s strategy of augmenting our D2C platform ecosystem to accelerate brand partners’ revenues and profitability across e-commerce channels. As we continue our journey to becoming a public company, we’re diligently looking for partnerships to help bring the highest-quality services to customers, and this agreement with Infosys Equinox allows us to do just that.”
— Andrew Vagenas, Chief Executive Officer, Packable
“At bp, we set out to provide solutions to enable cities and hard to abate industries decarbonize. Integrating advances in energy, mobility, and digital technologies and services has huge potential to accelerate the progress towards a more sustainable and resilient future. By bringing together our complementary capabilities, products, and services from bp’s different joint ventures in India, bp and Infosys can help each other – and our customers – achieve energy and sustainability goals faster.”
— Sashi Mukundan, President, bp India and Senior Vice President, bp Group
“As we continue on this journey to elevate our digital initiatives, we were looking for a partner that could understand and provide strength to our digital vision. IT services companies play an imperative role during these times of transformation. Infosys continues to be our strategic partner to drive efficiency in our IT landscape and support us in our digital transformation journey. Having shared a bond with Infosys for over 24 years, its knowledge of the existing landscape and skilled resources will help ensure the success of our initiative. We are happy to extend this collaboration with Infosys and are looking forward to a successful journey together.”
— Antonietta Mastroianni, Chief Digital & IT Officer, Proximus
“We are excited to extend our partnership with Infosys until 2026 as part of our ongoing journey of innovation. We look forward to working together to continue to change the way fans, players, coaches and audiences around the world engage with the Australian Open and our sport.”
— Craig Tiley, CEO of Tennis Australia and Australian Open Tournament Director
“As an organization, we are constantly looking for new ways to make the experience of our sport more compelling. Tennis is incredibly data-rich, and Infosys has both technological expertise and passion for tennis to bring it to life in an intuitive way. We are excited for fans to interact with these new features and look forward to future digital innovation together with Infosys.”
— Daniele Sano, ATP Chief Business Officer
“Our readers expect the best from the FT, and we are experimenting with exciting digital ways to bring stories and features to a wider audience. With Infosys’ help, we can use technology better and faster to deliver editorial features in more enterprising and eye-catching ways. The expertise Infosys provides to these newsroom projects will help foster a spirit of innovation and reader service that supports our mission to delight and inform the FT’s audience.”
— James Lamont, Director of Strategic Partnerships, Financial Times
“Infosys shares our vision for using data and analytics to improve the guest experience, and we couldn’t be more excited that they are joining us in such a significant and integrated partnership.”
— Andrew Lustgarten, president and CEO of MSG Sports and president of MSG Entertainment
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