Why are TCS investors jittery?
- TCS’ Q2 results had some soft spots such as moderate hiring and satisfactory but no particularly exciting deal wins.
Tata Consultancy Services Ltd’s (TCS) investors have been jittery, amid worries on demand outlook. Sadly, the September quarter (Q2FY23) results announced on Monday evening have done little to change that. Shares of the information technology (IT) services company were down 1.6% on Tuesday, though revenue growth and margin broadly surpassed expectations. Sequentially, TCS’ constant currency revenues grew by 4% and Ebit (earnings before interest and tax) margin rose 90 basis points (bps) to 24%.
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