Updated from 8:45 a.m. EDTShares of Infosys ( INFY) popped on Wednesday after the company exceeded the Street's top- and bottom-line expectations for the quarter while raising its full-year guidance. Stock in the Indian IT services firm jumped 6.5%, adding $5.09 to $83.10 in recent trading. Infosys said first-quarter earnings rose 43%, as a falling rupee helped offset higher expenses. The company earned $174 million, or 62 cents a share, in the quarter ended June 30, compared with $122 million, or 43 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 55 cents a share in the most recent quarter. First-quarter revenue rose 39% from a year ago to $660 million. Analysts expected $629.5 million. The strong results can be attributed to the company's brand building, client development and its broader service capabilities, said Ashish Thadhani, an analyst with Gilford Securities who has a buy rating on the stock. The company took advantage of the rupee weakness to invest in sales personnel and added visa flexibility, he said. "Margin was a little bit below expectations but attributable to seasonal considerations," he said. Annual wage hikes, and higher visa costs are typical for the first quarter. "The good news is the margins should pick up as the year progresses," he said. For the quarter, Europe proved to be a strong region for the company, testing and business process outsourcing services were strong, and telecom grew, he said. "The environment at this time (for Infosys) is very positive," Thadhani said. The results "give the markets a little bit of cheer after the bombing. It couldn't have come at a better time." For the second quarter, the company expects to earn 64 cents to 65 cents a share, on revenue of $710 million to $715 million. Analysts were expecting the company to earn 62 cents a share on revenue of $680.2 million. For the fiscal year ending March 2007, the company expects to earn $2.70 to $2.73 a share, on revenue of $2.91 billion to $2.92 billion. Analysts surveyed by Thomson First Call were expecting full-year earnings of $2.55 a share on revenue of $2.8 billion. Thadhani's firm does not have any ownership in the stock, nor do they do banking with Infosys.