India · Delayed Price · Currency is INR Infosys Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw 3.1% revenue growth and robust large deal wins, with AI services and partnerships driving differentiation. FY 2027 guidance is for 1.5%-3.5% revenue growth and 20%-22% operating margin, amid macro uncertainties and continued focus on cost optimization.
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Full-year revenue grew 3.1% in constant currency, with strong AI-driven growth and $14.9B in large deals. FY27 guidance is 1.5%-3.5% revenue growth and 20%-22% margin, with AI and Europe as key drivers. AI now exceeds 5.5% of revenue.
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AI is driving a fundamental transformation in enterprise technology, with rapid growth in AI services, a focus on modernization, talent reskilling, and deep client partnerships. Measurable outcomes across industries and evolving pricing models position the company for sustained growth and leadership in the $300–400 billion AI services market.
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Q3 FY 2026 saw steady revenue and margin growth, robust large deal wins, and strong AI adoption across clients. Guidance for FY 2026 was raised, with Financial Services and Energy expected to accelerate in FY 2027. AI, cost discipline, and digital transformation remain key growth drivers.
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Q3 saw modest revenue growth, strong large deal wins, and robust AI adoption, prompting an upward revision of FY revenue guidance to 3%-3.5%. Margins remained stable despite Labour Code impacts, with financial services, energy, and manufacturing leading growth.
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Q2 FY26 delivered solid revenue and margin growth, with strong large deal wins and robust free cash flow. AI leadership and strategic investments continue to drive market share gains, while FY26 revenue guidance was raised to 2%-3% amid ongoing macro uncertainties.
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Q2 saw 2.2% sequential and 2.9% year-over-year revenue growth, with a 21% operating margin and strong large deal wins. FY guidance was tightened to 2–3% growth, with continued focus on AI, cost optimization, and public sector expansion.
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Revenue grew 2.6% sequentially and 3.8% YoY in constant currency, with strong large deal wins and robust free cash flow. FY26 revenue guidance was revised to 1%-3% amid ongoing macro uncertainty, while operating margin held at 20.8%.
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Revenue grew 2.6% sequentially and 3.8% year-over-year, driven by AI-led productivity and strong deal wins. FY2026 growth guidance was raised to 1%-3%, with margins guided at 20%-22%, as macro uncertainties persist.
Fiscal Year 2025
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The AGM highlighted strong revenue and cash flow growth, a robust dividend policy, and strategic focus on AI, cloud, and ESG. Shareholders engaged on topics from AI's workforce impact to regional expansion, with all resolutions tabled for e-voting.
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FY 2025 delivered 4.2% revenue growth, 21.1% operating margin, and record free cash flow, with strong large deal wins and AI-led transformation as key drivers. FY 2026 guidance reflects macro uncertainty, projecting 0%-3% revenue growth and 20%-22% margin.
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FY25 saw 4.2% constant currency growth, $11.6B in large deal wins, and a 21.1% operating margin. FY26 guidance is 0%-3% growth and 20%-22% margin, reflecting macro uncertainty. AI and automation are key growth drivers, with strong expansion in Europe and ongoing sectoral monitoring.
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Q3 FY25 saw 6.1% YoY revenue growth and 21.3% operating margin, with strong cash flow and robust deal wins. Guidance was raised to 4.5%-5% revenue growth, while AI initiatives and value-based pricing supported performance. Seasonality and wage hikes are expected to impact Q4.
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Q3 revenue grew 1.7% QoQ and 6.1% YoY, with strong performance in Europe, India, and manufacturing. Guidance was raised to 4.5%-5% revenue growth, operating margin held at 20%-22%, and free cash flow hit a record $1.26B. Large deal wins and generative AI initiatives advanced.
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Q2 FY25 saw strong, broad-based growth with revenue up 3.1% sequentially and stable 21.1% margins. Guidance for FY25 revenue growth was raised to 3.75%-4.5%, with robust deal pipelines and continued focus on cost optimization and generative AI initiatives.
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Q2 saw 3.1% sequential and 3.3% year-on-year revenue growth, with operating margin steady at 21.1%. Financial services led growth, while retail and automotive lagged; FY 2025 revenue guidance was raised to 3.75%–4.5%. Generative AI initiatives and large deal activity remain strong.
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Q1 FY25 saw strong sequential and year-on-year growth, margin expansion, record large deal wins, and robust free cash flow. Financial services rebounded, while discretionary spending remains pressured in most sectors. FY25 revenue guidance was raised to 3%-4% in constant currency.
Fiscal Year 2024
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The AGM highlighted steady financial growth, record large deal wins, and a strong focus on Generative AI and digital transformation. Shareholders approved all resolutions, including dividends, and management addressed queries on AI, governance, and future strategy.