Infosys Climbs on Accelerating Q2 Growth

Infosys (NYSE:INFY) saw its fortunes improve in the last quarter, and its stock price with them.

The company, a global leader in next-generation digital services and consulting, delivered a strong Q2 performance with YoY growth increasing to 19.4% and sequential growth accelerating to 6.3% in constant currency.

Growth was broad-based across geographies and segments with the largest geography, North America growing at 23.1% and the largest segment, Financial Services growing at 20.5%, YoY in constant currency. Large deal momentum continued with TCV of $2.15 billion in Q2.

Operating margin for the quarter was resilient at 23.6%. The Board has announced interim dividend of $0.15 per share for FY22.

Revenues in CC terms grew by 19.4% YoY and 6.3% QoQ. Infosys reported revenues at $3,998 million, growth of 20.7% YoY. Digital revenues at 56.1% of total revenues, YoY CC growth of 42.4%

Said CEO Salil Parekh, "Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings. As we witness a strong market opportunity with global enterprises rapidly accelerating their digital journeys, our sustained investments in expanding capabilities, including the differentiated cloud play.

"Infosys Cobalt has uniquely positioned us to continue serving our clients effectively, gain market share and emerge as the preferred cloud and digital transformation partner in the market."

INFY shares grew 83 cents, or 3.8%, to $22.71.