Infosys narrows revenue growth outlook; names CEO designate
Seeking Alpha ·
Shares of Indian technology consultancy firm Infosys ( INFY ) fell about 5% premarket on Thursday after its fiscal first quarter results. The company also named Ashiss Kumar Dash as CEO designate. Current CEO Salil Parekh's term ends in March next year. Dash, who
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Infosys shares fell about 5% in pre-market trading as the Indian IT consulting firm lowered its annual revenue growth forecast alongside its Q1 earnings release. Additionally, Salil Parekh's successor as CEO was named as Salil Parekh's successor, Ashish Kumar Dassi. This guidance cut reflects concerns over slowing global IT demand and is acting as a burden on the related technology services industry.
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- IT Services — Infosys's downward revision of its revenue outlook indicates a slowdown in global IT consulting demand, leading to a 5% drop in pre-market share price and negatively impacting short-term investor sentiment.
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