Indian outsourcing giant
reported another solid quarter Wednesday, buoyed by a growing client list at its core software-services business.
Third-quarter earnings rose 58% to $112 million, or 42 cents per American depositary share, on a 53% jump in sales to $423 million. Analysts had been expecting earnings of 38 cents an ADS on revenue of about $411 million.
For the fourth quarter ending in March, Infosys sees earnings of 44 cents an ADS on sales of $452 million to $454 million. Both are well above forecasts.
"We have seen another quarter of robust growth," the company said in a release, adding that 38 new customers were signed up during the period. "Demand for offshore outsourcing continued to be strong. Clients have responded favorably to the combination of our consulting services and offshore delivery."
The stock rose $1.30, or 2.1%, to $64.55 on Instinet.