Infosys Net Misses Estimates as Clients Curb Technology Spending
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Infosys Ltd., India’s second-largest software exporter, reported first-quarter profit that missed analysts’ estimates as customers cut information-technology spending amid economic uncertainty.
Net income rose to 22.9 billion rupees in the three months ended in June, from 17.2 billion rupees a year earlier, Bangalore-based Infosys said today. That compares with the 24.2 billion rupee median of 31 analyst estimates compiled by Bloomberg.