Infosys Beats Earnings Estimates… Not Enough? (INFY)

Posted in pre-market 
October 9th, 2009

Infosys Technologies Limited (NASDAQ: INFY) beat earnings this morning, although the stock is lower as investors wanted to see more.  The Indian IT-outsourcing shop posted $0.56 EPS pn $1.15 billion in revenues vs. Thomson Reuters consensus of $0.50 and $1.12 billion.  It also raised FY10 targets to $2.09 to $2.10 EPS and $4.6 to $4.62 billion vs. consensus estimates of $2.04 EPS and $4.53 billion in revenues.  At 8:30 AM EST we have seen some 80,000 shares trade versus an average volume of 2.3 million shares.  But the stock is down 3.9% at $47.55 and the 52-week trading range is $21.10 to $50.10. -JON OGG

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