Infosys profits up 17%, long-term looks great

Filed under: Earnings reports, Hewlett-Packard (HPQ), India, International Business Machines (IBM), Stocks to Buy

Infosys Technologies (NASDAQ: INFY) increased its first quarter profits by 17% by tapping new markets and wrangling in 27 new clients, according to the Financial Times. The second-largest software services exporter in India, Infosys even scored some major clients, such as Waitrose, a top-shelf food retailer in the United Kingdom. Tough economic conditions can tend to favor companies that provide outsourcing services -- as well as consulting services with high, easily justifiable returns on investments (ROIs).

Nonetheless, this is a competitive space, and Infosys did caution that IBM (NYSE: IBM), Accenture (NYSE: ACN) and Hewlett-Packard (NYSE: HPQ) will be formidable global foes. With the announcement, Infosys increased the lower end of its forecast for the year, expecting revenues to fall in the $4.45 billion to $4.52 billion range.

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Infosys profits up 17%, long-term looks great originally appeared on BloggingStocks on Fri, 10 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.

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