Infosys - INFY STOCK NEWS

Infosys (NYSE: INFY) announced the launch of Infosys Cobalt, a comprehensive suite of cloud-powered services designed to accelerate enterprise transformation. This initiative includes over 14,000 cloud assets, enabling businesses to respond swiftly to market changes. With more than 200 pre-defined cloud solution blueprints and a commitment to security and compliance, Infosys Cobalt aims to boost innovation and speed-to-market. The initiative will also enhance collaboration among various stakeholders, including startups and academic institutions, thereby fostering a robust cloud community.

Infosys (NYSE: INFY) was recognized as a Leader in Gartner's May 2020 Magic Quadrant for Oracle Cloud Applications Services, indicating its ability to deliver effective cloud solutions. This validation highlights Infosys' commitment to customer success and its innovative approach towards Oracle services. The evaluation, which assessed 19 providers on vision and execution, found Infosys performing well in the market. Client testimonials from Harmonic and DNV GL underscore the company’s capability and successful project implementations, further reinforcing its market position.

Infosys (NYSE: INFY) has been certified as a Great Place to Work® in the United States, reflecting its strong workplace culture as determined by the Trust Index™ Survey. This certification, which verified that 70% of employees experience a positive work environment, emphasizes Infosys' commitment to employee development and hiring. Since 2017, over 13,000 employees have been hired, and six digital centers were opened in various locations. The company also launched the Reskill and Restart program to help workers affected by the COVID-19 pandemic.

Infosys (NYSE: INFY) has been chosen by Consolidated Edison Company to lead a digital transformation of their customer service systems over the next four years. This initiative aims to enhance customer service experience by implementing a comprehensive utility-focused Customer Service System. The project will provide Con Edison with modern, flexible solutions that address regulatory and technological challenges. Infosys will offer full program management and support throughout the deployment process, ensuring the system meets evolving business requirements.

Infosys (NYSE: INFY) announced a partnership with pymetrics to create a consortium aimed at reskilling the American workforce affected by COVID-19. The initiative, named Reskill and Restart, will utilize the Infosys Wingspan platform and pymetrics' AI talent-matching technology to guide job seekers through skills assessment and training to align them with available jobs. The partnership includes organizations such as Merit America and Revature, focusing on equipping individuals, particularly those in vulnerable communities, with the skills needed for future job markets.

Infosys reported Q1 results reflecting a 0.3% year-on-year decline in revenues, totaling $3.121 billion, with digital revenues growing at 25.5% in constant currency. Operating margin improved to 22.7%, marking a 220 basis point increase. Free Cash Flow surged by 50.1% to $728 million. The company has set its FY 21 revenue growth guidance at 0%-2% in constant currency, with an operating margin expected between 21%-23%. Additionally, Infosys secured significant client partnerships, including a digital transformation project for GlobalFoundries and a privacy-first contact tracing solution for Rhode Island.