TCS Profit Misses Estimates on Sputtering Demand for IT Services
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Tata Consultancy Services Ltd. third-quarter profit missed analysts’ estimates, signaling global enterprise clients continue to spend cautiously on technology.
Net income for the quarter through December rose 1.9% to 110.6 billion rupees ($1.3 billion), Mumbai-based TCS said Thursday. Analysts expected 114.97 billion rupees on average. Revenue in the quarter rose 4% to 605.8 billion rupees.