Infosys Cuts Annual Sales Outlook Amid Boardroom Upheaval
- CEO search is progressing well, company says in an update
- Coming quarters will be critical to its long-term future
Infosys Slashes Revenue Forecast
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Infosys Ltd. slashed its annual revenue forecast, as the Indian software outsourcing giant deals with the aftermath of a boardroom coup that forced out its top executive.
The software exporter is now forecasting 6.5 percent to 7.5 percent growth in revenue in the year ending March in U.S. dollar terms, versus the 7.6 percent rise analysts were anticipating. That reduction came even after the company reported net income of 37.3 billion rupees ($573 million) in the September quarter, slightly beating the 35.3 billion rupees projected.