Wipro Posts Q1 Results with Strong Cash Flows

Wipro (WIT) has released an update.

Wipro Limited reported a mixed financial performance for Q1 2024, with large deal bookings valued at $1.2 billion and a slight expansion in IT Services Margin by 0.4% year-over-year. Despite a decrease in gross revenue and IT services segment revenue on both a quarterly and yearly basis, the company experienced a 9.9% increase in earnings per share and robust operating cash flows at 131.6% of net income. The outlook for the next quarter remains cautiously optimistic, with expected IT Services business segment revenue ranging between $2,600 million to $2,652 million.

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