Infosys shares surge as Q3 results beat expectations. While FY24 revenue growth guidance was tightened, analysts are betting that Q3 was the bottom for the earnings downgrade cycle for the IT major. We expect growth to accelerate in FY25 on account of the ramp-up of large deals, strong deal pipeline and expected recovery in discretionary spending, said Emkay Global.
While Infosys net missed the Street s estimate, its revenue was a tad above expectations. Net new deal wins also remained strong, which makes analysts hopeful of a recovery in the coming quarters
Infosys views its deal pipeline and booking as robust and continues to expect improvement in client sentiment after the positive commentary by the US Fed in December 2023.