CLSA has announced that Infosys is likely to miss its upper end Q3 dollar revenue.

According to the brokerage house, Infosys may also post a sequential fall in dollar terms. Nevertheless, the company remains the "sole outperformer" among Indian tech shares. CLSA also noted that the BFSI (banking, financial services and insurance) segment has "worsened substantially," as long-term deals are being offered on "very tough terms".

Infosys has confirmed that the BFSI sector "remains challenging".

As IT Examiner previously reported, Infosys CEO Senapathy Gopalakrishnan recently predicted that a decrease in orders from financial clients would likely spread to retail and manufacturing customers.

"The most difficult part is we don't know when stability will come," said Gopalakrishnan.

However, despite Gopalakrishnan's gloomy outlook, Infosys' second quarter revenues actually rose by at least 19 per cent to $1,216 million. Earnings per American Depositary Share (ADS) increased to $0.56 for the quarter ended 30 September from $0.48 in the same quarter last year, showing a year on year growth of 16.7 per cent.

The company is also hoping to expand its revenue share in the software product sector, with a specific focus on emerging markets. According to Infosys COO S D Shibulal, the majority of recently-launched products have generated a very positive response. X

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