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https://killexams.com/exam_list/InfosysKillexams : Infosys's Earnings Outlook
InfosysINFY is set to supply its latest quarterly earnings report on Thursday, 2022-10-13. Here's what investors need to know before the announcement.
Analysts estimate that Infosys will report an earnings per share (EPS) of $0.18.
Infosys bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Historical Earnings Performance
Last quarter the company missed EPS by $0.02, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Infosys's past performance and the resulting price change:
Price Change %
Shares of Infosys were trading at $17.13 as of October 11. Over the last 52-week period, shares are down 24.33%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release.
Wed, 12 Oct 2022 19:15:00 -0500text/htmlhttps://www.benzinga.com/news/earnings/22/10/29248657/infosys-q2-earnings-insightsKillexams : Infosys (INFY) to Report Q2 Earnings: What's in the Cards?
Infosys Limited INFY is scheduled to report its second-quarter fiscal 2023 results on Oct 13.
Over the trailing four quarters, this India-based IT services provider’s earnings beat the Zacks Consensus Estimate once, met the same on one occasion and missed twice, the average negative earnings surprise being 2.62%.
In the last reported quarter, Infosys’ adjusted earnings of 16 cents per share missed the Zacks Consensus Estimate by 11% and decreased 1% year over year. Revenues of $4.44 billion jumped 17.5% year over year, surpassing the consensus mark of $4.38 billion.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $4.56 billion, suggesting a 14.1% increase from the year-ago period. The consensus mark for earnings stands at 18 cents per share, 5.9% higher than the year-ago quarter.
Infosys’ fiscal second-quarter performance is likely to have benefited from stellar demand for the cloud, data-analytics solutions and services, Internet of Things and security products and solutions. Higher investments by clients in digital transformation, AI and automation are also anticipated to have been conducive to its fiscal second-quarter performance.
Continued large deal wins and growth in digital services are likely to have driven INFY’s quarterly revenues during the to-be-reported quarter. The company’s efforts to reinforce digital transformation capabilities for expanding and solidifying its position in the highly competitive environment are a steady tailwind.
Infosys added 106 clients in the first quarter of fiscal 2023. It also signed multiple large deals of contract values worth $1.7 billion.
The growing traction of its solutions and services in the commercial and corporate banks, consumer, cost and payments, wealth management, and custody and mortgage portfolios of its business is likely to have been an upside during the quarter under review.
However, inflationary pressures and possible global slowdown concerns are anticipated to have led many organizations to push their large IT investments. Inflated investments in sales and localization and rising costs to grab large deals might also hurt Infosys’ bottom line during the quarter under discussion.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for INFY this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Infosys has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, Liberty Energy LBRT, Kimbell Royalty KRP and Murphy USA MUSA have the right combination of elements to post an earnings beat in their upcoming releases.
Liberty has an Earnings ESP of +14.32% and sports a Zacks Rank #1. The company is scheduled to report its third-quarter 2022 results on Oct 19. Liberty’s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 31.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LBRT’s third-quarter earnings is pegged at 64 cents per share, indicating a sharp improvement from the year-ago quarter’s loss of 22 cents per share. The consensus mark for revenues stands at $1.04 billion, suggesting a 59.8% year-over-year increase.
Kimbell Royalty has an Earnings ESP of +21.88% and currently sports a Zacks Rank #1. The company is slated to report its third-quarter 2022 results on Nov 3. Kimbell’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on the other two occasions, the average surprise being 34.4%.
The Zacks Consensus Estimate for Kimbell’s third-quarter earnings stands at 32 cents per share, implying a year-over-year increase of 700%. KRP is estimated to report revenues of $68 million, which suggests growth of 113.8% from the year-ago quarter.
Murphy is slated to report its third-quarter 2022 results on Oct 26. The company has an Earnings ESP of +11.33% and carries a Zacks Rank #1 at present. Murphy’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 49%.
The Zacks Consensus Estimate for Murphy’s quarterly earnings is pegged at $6.71 per share, suggesting a year-over-year increase of 68.6%. MUSA’s quarterly revenues are estimated to increase 33.8% year over year to $6.16 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sat, 15 Oct 2022 02:19:00 -0500en-UStext/htmlhttps://finance.yahoo.com/news/infosys-infy-report-q2-earnings-154403268.htmlKillexams : Infosys has let go of employees working for two companies: Parekh
Reiterating its stance against moonlighting, Infosys chief executive officer and managing director Salil Parekh said that over the past 12 months, the company has let go of employees who were found to be working for two companies, but did not reveal the exact number.
He said while the company was against the idea of dual employment, it provided gig work projects within the organisation, under its Accelerate programme. As part of the programme — which Parekh said has existed for several years — employees are free to take up additional work at work or even outside, to grow, after prior approval from managers.
“To be clear, we do not support dual employment. If we’ve found in the past employees who are doing blatant work in two specific companies, where there is confidentiality issues, we have let go of them in the last 12 months,” Parekh said at a press briefing.
“We’re also developing comprehensive policies on that front while ensuring that contractual and confidentiality commitments are fully respected,” he added.
Infosys added 10,032 employees to take its total headcount to 345,218 at the end of the September quarter. That compares with Wipro adding 605 employees, Tata Consultancy Services (TCS) adding 9,840 staffers and HCLTech adding 8,359 people.
In the first half of this fiscal, Infosys said it added about 40,000 new employees and signalled it could add more than 50,000 employees in all of FY23, a number that it had earlier projected. In FY22, Infosys hired 85,000 freshers, about 2.2X of the hiring in two years.
Infosys’ attrition rate has also been on a decline, as is broadly the case in the IT industry, thanks to a high base. In the September quarter, Infosys’ attrition fell to 27.1% from the June quarter’s 28.4%. It was however elevated when compared with 20.1% from September last year.
“While supply side challenges are gradually abating as reflected in the reducing attrition rates, they continue to exert pressure on our cost structure,” chief financial officer Nilanjan Roy said.
TCS’ attrition came in at 21.5%, HCLTech at 23.8% while Wipro’s stood at 23% during the quarter.
Infosys is the latest to hop on to the bandwagon of large information technology (IT) companies opposing the idea of employees working for competitors. Last month, Wipro chairman Rishad Premji said the company had fired 300 employees because they were found working with direct competitors.
HCL Technologies too said it opposed the idea and expected employees to respect their employment contracts.
Thu, 13 Oct 2022 10:32:00 -0500entext/htmlhttps://www.financialexpress.com/industry/infosys-has-let-go-of-employees-working-for-two-companies-parekh/2709778/Killexams : Infosys jumps after upbeat forecast, buyback planNo result found, try new keyword!Shares of India's Infosys Ltd jumped to a one-month high on Friday, after it announced a $1.13 billion share buyback plan and raised its revenue growth outlook. BENGALURU, Oct 14 (Reuters ...Thu, 13 Oct 2022 18:34:00 -0500text/htmlhttps://www.nasdaq.com/articles/infosys-jumps-after-upbeat-forecast-buyback-planKillexams : Infosys on track for onboarding freshers, numbers could go up
Infosys has hired 40,000 freshers, and the full-year target of 50,000 may go up, the IT services major said while announcing results for the quarter.
Thu, 13 Oct 2022 00:42:00 -0500entext/htmlhttps://www.livemint.com/companies/news/infosys-on-track-for-onboarding-freshers-numbers-could-go-up-11665661991529.htmlKillexams : Infosys stock climbs on strong 2Q results, boosted by digital revenue
Infosys’ stock rose more than 6% on Thursday, boosted by the Indian tech giant’s strong second-quarter results.
The digital services and consulting company reported revenue of $4.56 billion, a 13.9% increase on revenue of $4 billion in the prior year’s quarter. In constant currency terms, revenue grew 18.8% on the same period last year.
Infosys Ltd.’s INFY, +2.36% second-quarter revenue beat Susquehanna Financial Group’s estimate by $100 million and consensus by $50 million, according to Susquehanna analyst James Friedman. “INFY had a strong quarter, way better than feared and outperforming peers,” he wrote, in a note released on Thursday.
Digital revenues accounted for 61.8% of Infosys’ total revenue, representing year-over-year growth of 31.2% in constant currency. The company also announced a $1.13 billion share buyback.
Infosys earned 18 cents a share during the second quarter, compared with 17 cents a share in the same period last year.
“Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation,” said Infosys CEO Salil Parekh, in a statement. Parekh acknowledged that concerns around economic outlook persist, but said that Infosys’ demand pipeline is strong.
Set against this backdrop, the company revised its fiscal year 2023 revenue guidance to growth of 15% to 16%. Infosys’ prior guidance was for revenue growth of 14% to 16%, according to Bloomberg.
Infosys’ second-quarter operating margin was 21.5%, a decline of 2.1% on the prior year’s quarter, but a sequential increase of 1.5%. The company revised its fiscal year 2023 operating margin guidance to 21% to 22%.
Shares of Infosys Ltd. rose 6.4% on Thursday, outpacing the S&P 500 Index’s SPX, +2.86% gain of 3%. The company’s stock has fallen 28.3% this year, compared with the S&P 500’s decline of 23%.
Of 46 analysts surveyed by FactSet, 32 have an overweight or buy rating, 12 have a hold rating and two have a sell rating.
Thu, 13 Oct 2022 08:53:00 -0500en-UStext/htmlhttps://www.marketwatch.com/story/infosys-stock-climbs-on-strong-2q-results-boosted-by-digital-revenue-11665689240Killexams : India's Infosys Posts Q2 Profit Beat, Tightens FY Revenue ViewNo result found, try new keyword!India's Infosys Posts Q2 Profit Beat, Tightens FY Revenue View By Sethuraman N R and Munsif Vengattil BENGALURU (Reuters) - India's Infosys Ltd on Thursday reported a bigger-than-expected increase ...Fri, 14 Oct 2022 21:49:00 -0500text/htmlhttps://www.usnews.com/news/technology/articles/2022-10-13/indias-infosys-beats-q2-profit-estimates-sets-1-13-billion-share-buybackKillexams : Infosys Says It "Let Go" Of Employees In Last 12 Months Over Moonlighting
Infosys did not reveal the exact number of people who were "let go"
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months.
Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting.
Last month, Wipro Chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time.
On Thursday, during the Q2 earnings' briefing, Infosys CEO Salil Parekh said the company does not support dual employment.
"We don't support dual employment... if we found... in the past, employee doing blatant work in two specific companies where there is a confidentiality issue, we have let go of them in the last 12 months," Mr Parekh said.
Infosys is among the companies who have taken a strong stance on moonlighting. It recently shot off a missive to its employees asserting that moonlighting is not permitted, and warned that any violation of contract clauses will trigger disciplinary action "which could even lead to termination of employment".
"No two timing - no moonlighting!" the company had said.
The issue of moonlighting emerged as a big talking point after Rishad Premji flagged the issue. Mr Premji had taken to Twitter to highlight the issue saying: "There is a lot of chatter about people moonlighting in the tech industry. This is cheating - plain and simple." HCL Technologies too has weighed into the issue of moonlighting and has said it does not approve of dual employment, although it hastened to add that the issue is not a major one within the company.
Mr Parekh said where gig opportunities in the external environment is concerned, Infosys supports aspirations of employees to learn beyond their work but after prior approval of manager has been obtained.
"We will support them to work on certain gig projects after the prior approval of the managers. We are also developing more comprehensive policies for that, while ensuring contractual and confidentiality commitments are fully respected. However to be clear, we do not support dual employment," he said.
Thu, 13 Oct 2022 08:47:00 -0500text/htmlhttps://www.ndtv.com/india-news/infosys-says-doesnt-support-moonlighting-has-fired-violators-3429810Killexams : What Infosys CEO Salil Parekh Had To Say About Continuing Work From Home, Moonlighting. Read Here
Infosys on Moonlighting: Amid the ongoing debate over moonlighting, India’s second largest IT firm Infosys has confirmed sacking staffers who were involved in dual employment. The development comes as the he Bengaluru-headquartered company disclosed its Q2FY23 results. “If the employees are doing blatant work in two specific companies where there’s confidentiality issues, we have let go them in the past 12 months”, Times Now quoted Infosys CEO Salil Parekh as saying.Also Read - After Firing Employees Over Moonlighting, Infosys CEO Says Company Mulling Policy To Allow The Same
Comprehensive Policies Underway
Furthermore, Parekh asserted that Infosys is planning a comprehensive policy that allows employees to work on other projects within and outside of Infosys.
“For gig opportunities in the external environment, we support the aspirations of our employees to learn beyond work. We will support them to work on certain gig projects after prior approval of the managers. We are also developing more comprehensive policies for that while also ensuring contractual and confidentiality commitments are fully respected. However, to be clear, we do not support dual employment.”
Infosys On Work From Home
CEO Parekh said that the current flexible style of working is well for India’s second-largest IT services company.
He announced that the company will not scrap WFH, rather continue with its flexible approach with respect to employees working from home.