Why Infosys Stock Popped Today
Shares of Infosys (NYSE: INFY) have popped today, up by 12% as of noon EDT, after the company reported fiscal first-quarter earnings results. The outsourcing specialist beat expectations for both the top and bottom lines and operating margin expanded.
Revenue in the fiscal first quarter came in at $3.1 billion, ahead of Wall Street's forecast of $2.94 billion in sales. That translated into earnings per share of $0.13, also topping the consensus estimate of $0.12 per share. The technology outsourcing company also said its operating margin expanded by 220 basis points. Voluntary attrition for IT services declined to 12%.
Image source: Infosys.
Source Fool.com
