Infosys Profit Growth Best in Three Years
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Infosys Technologies Ltd., India's second-largest software services company, posted its biggest quarterly profit jump in three years on increased outsourcing by telecoms and financial companies.
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Revenue rises impressively in the eatery's third quarter.
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US software giant Oracle posted higher profits for the past three months, boosted by new business products gained from acquisitions.
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Oracle Corp. , the world's third-largest software maker, reported profit that beat Wall Street expectations on Tuesday and gave a positive growth outlook for the current quarter that nudged its shares higher.
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DALLAS -- Third quarter profits at Texas Instruments Inc. grew by $116 million from a year ago due to rising demand for its chips used in high-end mobile phones and digital light processing systems for big-screen televisions.
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The company said third-quarter profit rose more than expected, boosted by higher aircraft deliveries, but it scaled back next yearâs forecast due to delays on its  787 Dreamliner.
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Infosys Technologies, India's second-largest software company, Friday posted a better-than-expected third quarter profit after expanding its client base in a "challenging" market.
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The company Friday said it expected to post a profit in the third quarter, thanks to Improved pricing and product mix and higher unit volume, reversing a year-ago loss.
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Swedish telecommunications equipment maker Ericsson today reported a return to net profit in the third quarter, lifted by healthy growth in its international markets.
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Consumer electronics retailer Best Buy  Co  posted a higher-than-expected third-quarter profit  on Tuesday on strong sales and raised its full-year earnings  forecast.
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Infosys Technologies profits from global outsourcing trends.
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India&#39;s third largest outsourcer Wipro reported a 32 percent increase in revenue in the quarter ending December 31, but profits grew by only 11 percent over the same quarter last year, reflecting&#160;higher salaries in India, and reduced margins as a result of its&#160;acquisition last year of U.S. IT services provider Infocrossing.Infocrossing&#39;s margins were lower than that of Wipro even before the acquisition, although the company said last year that it hoped to increase utilization at its datacenters by offering the option of hosting in the U.S. to some of its outsourcing clients.Wipro&#39;s revenue for the quarter was 52.36 billion rupees ($1.33 billion) at the exchange rate on the closing date of the quarter, while its profits were 8.26 billion rupees. Wipro&#39;s revenue from its export business, Global IT Services and Products, was 36.14 billion rupees, up by 26 percent over the same period last year.The U.S. economy, which is the largest market for Indian outsourcers, is facing challenges, but there has not been any impact yet on Wipro, Azim Premji, chairman of the company told analysts.Indian largest outsourcer, Tata Consultancy Services, and second largest outsourcer, Infosys Technologies, both reported strong revenue growth for the quarter, despite concerns that the Indian outsourcing industry was likely to be hit by the&#160;weakening of the U.S. dollar. The U.S. is the largest market for Indian outsourcers, accounting for about 66 percent of export revenue, and the rupee has appreciated by about 12 percent against the dollar from the beginning of this year.The appreciation of the rupee against the U.S. dollar pushes down rupee realizations for revenue earned in the U.S. by Indian companies, even as staff costs in India are going up.Wipro got better prices for its services during the quarter, and added 39 new clients, which helped push up its top line. Improved price realizations and productivity also helped counter the impact of the weakening dollar, said Suresh Senapaty, Wipro&#39;s chief financial officer. &quot;We have a healthy pipeline of large deals going forward,&quot; Premji said.The company had 79,832 employees as of December 31, which included 59,925 employees in its IT Services and products business and 19,907 employees in its BPO (business process outsourcing) services business.
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Oracle Corp. , the world's third-largest software maker, reported on Tuesday higher quarterly profit as sales of products it acquired over the past year helped boost earnings.
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The investment firm reported strong third-quarter earnings.
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India's second largest software exporter, Infosys Technologies Ltd., said Wednesday that net profit for its fiscal third quarter rose 58 percent to &#36;112 million.
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The shipping carrier reported third-quarter profit of $1.08 billion, a 3.7 percent increase from the same period  a year ago, on a modest rise in sales.
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Quarterly profit beat expectations on strong growth in its international, ground and freight segments.