Wipro Reports Mixed Q4 Results, Provides 2023 Outlook

Wipro (NYSE: WIT) reported its Q4 results on Friday, with EPS of $0.07 coming in better than the consensus estimate of $0.06. Revenue was $2.8 billion, slightly missing the consensus estimate of $2.83 billion. Total bookings grew 26% year-over-year to $4.3 billion.

For fiscal 2023, the company expects revenue growth from the IT Services business to be in the range of 11.5-12%, translating into a growth rate of (0.6%) to 1% sequentially. Margin guidance recognizes Q3’s result as the base, with room to improve.