Infosys Slumps 9 Percent on Revenue Outlook Worries
March 13, 2014 3:38 PM EST
Shares in Infosys fell as much as 9 percent on concerns about the revenue outlook after Barclays cited the software service exporter's chief executive SD Shibulal as saying the company was facing challenges in some customer segments.
Employees walk in front of a pyramid-shaped building at the Infosys campus in the Electronic City area of Bangalore September 4, 2012.
Barclays, in an email to clients, said Infosys (INFY.NS) management, highlighted improving customer optimism, but added Shibulal had also "highlighted the challenges faced by the company in retail and Hi-Tech vertical."
"We believe that if the challenges outplay positives, the company is likely to gravitate towards lower end of FY14 guidance, implying muted Q4FY14," Barclays said in its email.
Infosys, India's second largest software services exporter, in January raised revenue growth guidance for the 2013/14 financial year to between 11.5 and 12 percent from a previously forecast 9-10 percent, citing higher demand for its services.
Infosys shares were down 7.4 percent at 9:27 a.m.
Most Popular Slideshows
- In Photos, Typhoon Rammasun Blasts the Philippines
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
Join the Conversation
- Malaysian Airlines Flight 17: Air Carrier to Give $5,000 Assistance to Victims’ Families; Bankruptcy Looms as 2 Air Mishaps Would Cost Firm Minimum $80.55 M Compensation
- Foxconn And Pegatron Corp Readies For Apple's iPhone 6 Mass Production This Month
- Malaysian Airlines Flight 17: Air Carrier Losing $1.6 Million/Day; Crisis Management Experts Suggest Hiring Risk Expert as CEO
- California Fruits Recalled in USA and Canada for Possible Listeria Contamination
- KFC & McDonald’s Accused of Serving ‘Expired’ Meat to Customers
- Google Nexus 8 Release Date Soon Along with 2 More HTC Android Tablets – Reports
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Sony PlayStation 4 Outsells a Resurgent Xbox One in June
- Killer Xiaomi Mi4 at $369 Likely to Come With 5.0-Inch Display, Snapdragon 801 Processor, 3GB RAM and More