Company Results & Outlooks
BANGALORE/MUMBAI - Wipro , India's third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients.
- Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting.
- Goldman Sachs Group Inc reported an 11 percent drop in quarterly profit as client activity remained constrained and fixed-income revenue shrank, but both earnings and revenue beat market estimates and the Wall Street bank's shares rose.
- IBM Corp, the world's biggest technology services company, reported its lowest quarterly revenue in five years on Wednesday, as Big Blue struggles with falling demand for its hardware and faces challenges in growth markets like China.
MUMBAI - IT services exporter HCL Technologies beat market expectations with a 59 percent rise in March-quarter profit, helped by increasing demand for outsourcing services.
- IBM Corp reported its lowest quarterly revenue in five years as the company struggles with falling demand for its storage and server products.
MUMBAI - Tata Consultancy Services Ltd , India's largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months.
Reuters Market Eye - Reliance Industries Ltd's operating profit may lag consensus estimates when it reports January-March quarter results on Friday, Thomson Reuters StarMine's SmartEstimates shows.
BANGALORE/MUMBAI - Staff left India's second largest IT services exporter Infosys Ltd at an unprecedented pace in the last quarter, worrying its management and raising investors' concerns about its ability to win lucrative contracts even as it posted a higher-than-expected net profit for the period.
SEOUL - South Korea's Hyundai Motor on Sunday unveiled its small sport utility vehicle (SUV) concept targeted at the Chinese market, planning to join a flurry of rivals in tapping the growing segment in the world's biggest market.