HCL Technologies Q2 Revenue Rises 2.3% Amid Software Drag
· Business · LiveMint, NDTV Profit
HCL Technologies reported a sequential constant currency revenue growth of 2.3% for the second quarter of FY27, falling slightly below consensus estimates of 2.7%. The software business contracted by 5.8% sequentially due to a lower volume of multi-year license renewals, while the services segment grew by 3%. Total contract value of new deal wins rose to $3.26 billion, up from $2.41 billion in the previous quarter. Following the earnings report and upgraded estimates from select brokerage firms, HCL's stock rose 7% on Tuesday. Management revised its full-year services revenue growth guidance to 3-4%, incorporating contributions from inorganic acquisitions like HPE Telco Solutions and Jaspersoft.
Why it matters
The earnings update highlights the resilience of India's IT sector amidst shifting global enterprise demand and macroeconomic uncertainty.
Read the original report — LiveMint
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