Infosys Lifts Sales Outlook on Hopes of Rebound in IT Spends

Infosys, India's second-largest IT services company, has raised the lower end of its yearly revenue forecast. The company is optimistic about a rebound in IT spending, particularly in areas like artificial intelligence. The revised revenue guidance for the fiscal year 2023 is now between 15% and 16%, up from the previous range of 14% to 16%. This indicates the company's confidence in its ability to capitalize on the growing demand for digital transformation services. Infosys' leadership attributes this positive outlook to the continued momentum in the company's core business and the increasing adoption of emerging technologies by its clients. The company is well-positioned to leverage its expertise in areas like cloud computing, data analytics, and digital experience to drive growth. The revised forecast suggests that Infosys is navigating the market dynamics effectively and remains optimistic about its future performance, despite the ongoing global economic uncertainties.