Infosys Stock Price, News & Analysis

Infosys reported strong financials for Q1 FY23, achieving 21.4% year-on-year revenue growth and 5.5% sequential growth in constant currency. Digital services accounted for 61% of total revenue, growing by 37.5% YoY. The company increased its revenue guidance for FY23 to 14%-16% while retaining margin guidance at 21%-23%. Operating margin for the quarter stood at 20%, with a Free Cash Flow conversion rate of 95.2%. Net hiring reached 21,171 employees, highlighting a robust talent acquisition strategy.

Infosys (NYSE: INFY) partners with the International Tennis Hall of Fame to enhance the fan experience through digital innovation. From July 10-17, 2022, at the Infosys Hall of Fame Open, a revamped tournament website will include features like Matchbeats, AI quizzes, and automated commentary. Additionally, a metaverse museum will celebrate tennis history, accessible globally. The full project launch is slated for 2023, aiming to engage fans through immersive digital experiences.

Infosys (NSE, BSE, NYSE: INFY) announced its acquisition of BASE life science, a European technology and consulting firm specializing in life sciences. This acquisition aims to enhance Infosys' capabilities in the digital transformation of clinical trials and drug development.

With a team of 200 experts across Europe, BASE focuses on data and AI solutions, enabling better health outcomes. The deal is expected to close in Q2 of fiscal 2023, subject to customary conditions.

Infosys (NSE: INFY) has entered into a strategic seven-year collaboration with TK Elevator to revamp its digital workplace management, IT infrastructure, and network security. This partnership aims to enhance cybersecurity and reduce operational costs through AI-powered IT services and automation. Infosys will harmonize global service desk and workplace operations, leveraging its expertise in digital transformation. TK Elevator expects this collaboration to foster innovation, efficiency, and improved user experiences for employees globally.

Amazon Web Services (AWS) has launched AWS Mainframe Modernization, a service designed to help customers transition their mainframe workloads to the cloud efficiently. This service allows organizations to either refactor or replatform their mainframe applications with minimal changes. With a managed runtime environment, it automates capacity provisioning, security, and application monitoring. Available now in several regions, the service supports various industries and partners like Infosys and TCS in leveraging AWS for modernization.

Infosys (NSE: INFY) has announced the launch of new digital innovations in partnership with the French Tennis Federation for the 2022 Roland Garros tournament. The five-year collaboration aims to enhance fan engagement through technologies like AR, VR, and AI, offering features such as a 3D Racket Exhibition and real-time match statistics. The initiative also introduces a STEM program to inspire youth in science and technology using tennis as a platform. These innovations will provide a more immersive experience for viewers and promote STEM education.

CareAR, a Xerox company, has partnered with Infosys to accelerate enterprises' exploration of the metaverse through the Infosys Metaverse Foundry. This collaboration aims to enhance service experience transformation via CareAR's service experience management (SXM) platform, utilizing applications like CareAR® Assist. The integration promises reduced costs, improved customer and employee experiences, and alignment with ESG goals by decreasing the need for field technicians. Both companies are targeting multiple industries including healthcare and manufacturing.

Infosys (NYSE: INFY) announced a partnership with Backcountry to enhance its digital security framework and customer experience through the Infosys Cobalt and Cyber Next platforms. Utilizing Google Cloud, Backcountry's transformation focuses on improving its security measures and optimizing business operations. This collaboration is crucial as consumer demand for outdoor products rises, with Backcountry also opening new stores. The integration of predictive analytics via Google BigQuery allows Backcountry to respond quickly to market changes while maintaining cost efficiency.

Infosys released the Modernization Radar 2022, revealing that 50% of global legacy applications are set to modernize within two years. This modernization is crucial for reducing operational costs, increasing revenues, and enhancing customer experience. Key findings highlight a majority of legacy systems are core to business, presenting significant risks due to inadequate support. Companies are encouraged to adopt strategic modernization plans, upskill talent, and utilize phased approaches to minimize disruptions.