Wipro revenues hits $2bn in Q2
Bengaluru-based Wipro, a global information technology, consulting and outsourcing company, registered revenues of US$2.04 billion in the second quarter ended September 30. The figure exceeded estimates despite the firm’s divestment of some businesses. Wipro’s dollar revenue grew 1.37% on a year-over-year basis and rose 1.6% on a sequential basis. Also, Wipro’s sequential growth in revenue both in constant and dollar terms was higher at 2.8% and 1.9%, respectively. A Bloomberg survey of 25 analysts had forecast Wipro to post revenue of US$1.96 billion in the September quarter. They estimated the company to post a profit of US$288.91 million in Q2. However, Wipro posted a net profit of Rs18.89 billion (US$258 million) during the quarter, missing estimates.
