18 Jan 2017
TCS, Infosys, Tata and US Congress
The third quarter results season is already upon us with the bellwether IT stocks announcing numbers which were more or less in line with expectations. TCS reported revenues ahead by 8.7% and profits up by 10.7%. The company announced the appointment of its CFO as CEO, replacing predecessor Chandrasekhan, who has been appointed Chairman of Tata Sons Ltd. Infosys reported revenues ahead by 8.6% and profits by 7%. Both companies emphasized tough trading conditions and refined forward guidance slightly. A move in the US Congress to amend H1-B visa requirements by raising the minimum salary to $100k and remove the “masters’ degree” exemption could present an additional headwind in future.
Posted by #richardneve at 1/18/2017