Bellwether returns? June quarter sales show Infosys could bounce back
Infosys reported better-than-expected performance during the April-June quarter, indicating that the company is likely on a bumpy road to recovery, Economic Times reported.
At 2.7% sequential growth in dollar-denominated revenues, sales for India's second-largest software service exporter were well above even the most bullish estimates. Not unlike the past few quarters, analysts' estimates were off the mark by a wide margin and the stock market reacted wildly, sending its shares soaring nearly 11%.
Read the full ET report here