Infosys Technologies Limited (NASDAQ: INFY) is now a $40 billion IT-outsourcing outfit. The company has reported Q2 earnings at $0.65 EPS versus Thomson Reuters estimates of $0.61; Revenues were up almost 30% at $1.5 billion versus estimates of $1.43 billion. For the Fiscal-2011, Infosys expects each ADS to see $2.54 to $2.58 EPS and to see $5.95 to $6 billion in total revenues. Thomson Reuters has estimates of $2.50 EPS and $5.79 billion.
The India-based IT-outsourcing outfit also recognized that giant currency fluctuations are a large concern. New hires were said to over 7,000.
The first take is that shares have gotten ahead of themselves and that shares are fully valued. We’ll pass a final judgment later because of a recent run-upin shares.
Infosys closed at $71.01 yesterday and the 52-week range is $45.24 to $71.99; shares are indicated down 2% at $69.60 in early indications.
Wipro Ltd. (NYSE: WIT) is a direct competitor indicated down over 1% and “The U.S Indian Outsourcer” is Cognizant Technology Solutions Corp. (NASDAQ: CTSH) and shares are indicated down only marginally.
JON C. OGG
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