Infosys revenue up 19%; growth in largest segment, North America, is up 23%

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October 13, 2021

Infosys (NYSE: INFY) reported revenue rose 19.4% in constant currency in its fiscal second quarter ended Sept. 30. It cited broad-based growth across geographies and segments, including its largest segment, North America, where revenue rose 23.1% year over year in constant currency.

The Bengaluru, India-based IT services giant also reported the signing of $2.15 billion worth of large deals and added 117 clients to a total of 1,714 active clients in the quarter.

(US$ millions) Q2 2022 Q2 2021 % change % constant currency
Revenue $3,998 $3,312 20.7% 19.4%
Gross profit $1,323 $2,596 -49.0%  
Gross margin percentage 33.1% 78.4%    
Net profit $733 $653 12.3%  

Chief Operating Officer Pravin Rao said 86% of Infosys’ workers in India have received at least one dose of a Covid-19 vaccine, and the company is now preparing for the hybrid work model. Rao also noted Infosys is ramping up its college grad hiring program to approximately 45,000 this year.

Guidance

Infosys now forecasts revenue for the full year to increase by between 16.5% and 17.5%.

Share price and market cap

Shares in Infosys were up 4.11% to $22.78 in New York as of 1:31 p.m. Eastern time; they were 5.63% below their 52-week high, according to FT.com. the company had a market cap of $94.08 billion.

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