IT sector giant Infosys is worried about the loss of earnings because of this, IT companies are troubled by the ongoing uncertainties around the world.
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Due to this, the guidance was cut
At present, IT companies are grappling with the ongoing uncertainty in the economies of the world. Most of the income of IT companies comes from North America and Europe. There is a possibility of rising interest rates in these countries affecting the expenses incurred by IT companies. IT giant Infosys is afraid of the same thing. Infosys is estimating that its revenue growth for this financial year could be 1-3.5 per cent. Whereas earlier the growth of 4-7 percent was estimated. Although the company has not given the reason for this. Uncertain economic conditions have been mentioned in the past by the CFO of the company.
companies make assumptions
Companies keep assessing their performance in the future. For this, companies themselves estimate how much their growth and income is going to be in the coming time. This is called guidance. It is the company’s best estimate of earnings and growth. With the help of guidance, investors and analysts make their estimates and on the basis of this the share prices are also affected.
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The way IT companies are facing the fear of loss of earnings, this is a warning for America. A major part of the income of IT companies comes from America and Europe. The way interest rates have increased in America. Everyone will see its effect. American Depository Receipts (ADR) of Infosys suffered heavy losses in the pre-market session on the New York Stock Exchange (NYSE). ADRs allow American investors to invest in foreign companies without any complications.
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