BUZZ-India's Wipro slips on weaker-than-expected revenue outlook - Reuters News
15-Jan-2020 09:47:56 AM
** Shares of Indian IT services provider WIPR.NS fall as much as 3.54%, their lowest since Jan 3, after reporting a 2% drop in Dec-qtr profit (Full Story)
** Profit beats consensus estimates, per Refinitiv data, and revenue rises, but some analysts say Wipro's revenue outlook was weaker than expected
** "Organic revenue growth guidance for Q4 at 0-2% quarter-over-quarter still weaker than what we were expecting," Morgan Stanley says in a research note
** "March 2020 guidance a tad short vs expectations," Emkay says in a research note
** Wipro says it saw a slowdown in the banking, financial services and insurance businesses due to a downturn in capital markets and European banking
** Seven of 44 brokerages rate the stock "buy" or higher, 19 "hold" and 18 as "sell" or lower