Welcome to our dedicated page for Wipro news (Ticker: WIT), a resource for investors and traders seeking the latest updates and insights on Wipro stock.
Wipro Limited reports developments as an India-based, AI-powered technology services and consulting company with American depositary receipts traded under WIT. Recurring updates cover IFRS financial results, IT Services segment revenue, bookings, operating margin, dividend and buyback matters, and governance items tied to its listings in India and on the New York Stock Exchange.
Company news also covers enterprise technology modernization engagements and software-delivery partnerships. Wipro’s AI-related offerings include Wipro Intelligence™, WEGA and WINGS, which are used in client programs involving application modernization, automation, agent-native development, cloud operations, customer experience and digital transformation across global enterprise sectors.
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Logility has entered a strategic alliance with Wipro to enhance supply chain management transformations using Logility's Digital Supply Chain Platform. The collaboration aims to address global supply chain challenges by integrating advanced technologies like AI and blockchain into demand planning, inventory management, and S&OP. Wipro’s expertise will help clients leverage Logility’s capabilities for improved decision-making and efficiency. Both companies are positioned to deliver high-impact solutions amidst ongoing supply chain volatility.
Wipro Limited (NYSE: WIT) reported strong financial results for Q2 2022, with IT Services revenue at $2.8 billion, reflecting a 14.6% YoY increase. The company achieved 23.8% growth in order bookings and reported a 15.1% IT Services operating margin. Net income reached $326.8 million, with earnings per share at $0.061. Free cash flow was robust at 181% of net income. The outlook for Q3 2022 anticipates IT Services revenue between $2,811 million to $2,853 million, indicating 0.5% to 2.0% sequential growth.
Wipro Limited (NYSE: WIT) is set to announce its financial results for the second quarter ended September 30, 2022, on October 12, 2022, after market hours. The announcement will be followed by a conference call at 7:30 PM IST (10:00 AM ET) where management will discuss the results and answer questions. Interested parties can access the results on the company's website. Investors can listen to the conference via a webcast. Wipro operates globally, employing over 250,000 individuals and focusing on digital transformation services.
Wipro Limited (NYSE: WIT) has achieved AWS Energy Competency status, highlighting its expertise in helping clients transition to sustainable energy solutions using AWS technology. This designation sets Wipro apart within the AWS Partner Network, showcasing its proficiency across various sectors including production operations and new energy solutions. The AWS Energy Competency enables energy customers to select skilled partners for digital transformation. Wipro aims to implement an RMS solution for centralized data management in refining operations, further solidifying its commitment to technological advancements.
Wipro Limited (NYSE: WIT) has secured a multi-year contract with HM Treasury (HMT) to provide Service Integration and Management (SIAM) Services. This partnership aims to enhance the integration of IT services across HMT and its Arm’s Length Bodies, improving user experience. Wipro will manage end-to-end SIAM services, which include coordinating service integration across multiple vendors. The collaboration underscores Wipro's commitment to digitalization in the public sector, playing a pivotal role in optimizing operational efficiency within HMT.
Wipro Limited (NYSE: WIT) reported that the manufacturing sector leads in cloud adoption, with 32% achieving 'cloud leader' status. The company's report highlights that manufacturers enjoying cloud benefits realize a 42% ROI compared to 24% for early adopters. Despite progress, 27% of manufacturers are still in early cloud adoption stages, hindering their market responsiveness. Key findings include improved productivity (56%) and quality control (79%) due to cloud technologies. The research surveyed 93 executives across France, Germany, Switzerland, and the UK, affirming the cloud's critical role in future-proofing manufacturing.
Wipro Limited (NYSE: WIT) released a report with Harvard Business Review, titled Manufacturing 2025: Bolder Vision, Stronger Purpose, highlighting digital transformation's role in the manufacturing sector. The report emphasizes that innovative manufacturers are leveraging technology to enhance operations, sustainability, and customer experiences. Key findings include significant potential losses in maintenance costs and the need for a unified data view. C-suite leadership and talent re-skilling are crucial for successful transformations. Manufacturers also focus on aligning their business models with environmental, social, and governance (ESG) goals.
Wipro Limited (NYSE: WIT) has entered a five-year strategic agreement with Nokia, enhancing their long-standing partnership. This collaboration aims to optimize Nokia's operations through process digitization and automation. Wipro will support Nokia's Global Business Services (GBS) by improving order management, finance, and accounting operations. The deal aims to deliver measurable outcomes and enhance user experiences, positioning both companies for success in the 5G landscape.
Wipro Limited (NYSE: WIT) announced its Q2 2022 financial results, reporting a gross revenue of Rs 215.3 billion ($2.7 billion), marking a 17.9% YoY increase. IT Services Segment revenue reached $2,735.5 million, up 13.3% YoY. The company experienced a decrease in operating margin to 15.0%, down 200 bps QoQ. Net income was Rs 25.6 billion ($324.4 million), with EPS at Rs 4.69 ($0.061). Wipro's order bookings rose 32% YoY, driven by large transformational deals. The guidance for Q3 2022 estimates IT Services revenue between $2,817 million and $2,872 million, reflecting a 3.0% to 5.0% sequential growth.