Wipro (NYSE:WIT) Announces Quarterly Earnings Results

Wipro (NYSE:WIT) posted its quarterly earnings data on Friday. The information technology services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01), Zacks reports. Wipro had a return on equity of 15.80% and a net margin of 15.06%.

Here are the key takeaways from Wipro’s conference call:

• Wipro reported IT services revenue of $2.64 billion in Q3, up 1.4% sequentially (1.2% reported) with broad-based gains across markets and sectors, and guided Q4 IT services revenue growth of 0–2% in constant currency (guidance includes Harman DTS).
• Operating margins expanded to 17.6% (up 40 bps on an adjusted QoQ basis and 10 bps YoY), which management called one of its best recent margin performances and aims to sustain despite expected Harman dilution.
• Q3 net income and EPS were reduced by two one‑off charges—INR 302 crore for graduate expenses related to the Labor Code and INR 263 crore for a completed restructuring—though management says no further restructuring charges are anticipated.
• Management pushed an AI‑first strategy under Wipro Intelligence (industry platforms, delivery platforms Winx/Vega, and an expanded Innovation Network), citing multi‑year AI‑led transformation wins that bring Wipro in earlier in client lifecycles.
• Bookings were $3.3 billion TCV in Q3 and $13 billion YTD (+~25% YoY) with $6.3 billion in large deals (+~50% YoY), highlighting a strong pipeline even as quarter‑to‑quarter TCV is lumpy; the Harman DTS acquisition closed and adds engineering/AI capabilities while introducing short‑term margin dilution.

Wipro Trading Down 2.1%

Shares of Wipro stock opened at $2.97 on Friday. The business has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $2.79. The firm has a market capitalization of $31.05 billion, a P/E ratio of 19.77, a P/E/G ratio of 18.34 and a beta of 1.03. Wipro has a 12 month low of $2.55 and a 12 month high of $3.79.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tidal Investments LLC grew its stake in shares of Wipro by 19.3% during the 2nd quarter. Tidal Investments LLC now owns 27,260 shares of the information technology services provider’s stock valued at $82,000 after purchasing an additional 4,403 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Wipro by 10.2% in the second quarter. Cresset Asset Management LLC now owns 55,883 shares of the information technology services provider’s stock worth $169,000 after buying an additional 5,166 shares during the last quarter. Raymond James Financial Inc. grew its position in Wipro by 7.0% during the third quarter. Raymond James Financial Inc. now owns 84,707 shares of the information technology services provider’s stock valued at $223,000 after buying an additional 5,575 shares during the period. Curi Capital LLC purchased a new stake in Wipro during the second quarter valued at approximately $31,000. Finally, CW Advisors LLC bought a new position in Wipro in the second quarter worth approximately $39,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WIT shares. CLSA cut shares of Wipro from an “outperform” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wipro in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

About Wipro

Wipro Limited (NYSE: WIT) is an Indian multinational corporation that provides information technology, consulting and business process services. Headquartered in Bengaluru, India, the company traces its origins to 1945 when it was founded as Western India Vegetable Products and later diversified into technology and IT services. Today Wipro positions itself as a provider of enterprise IT solutions and digital transformation services for large and mid-sized organizations across multiple industries.

The company’s service portfolio includes application development and maintenance, cloud and infrastructure services, data analytics and AI, cybersecurity, digital consulting, product engineering and research and development, as well as business process services.