Research & Insight

Market Analysis

1Q13 First Take; Better than Expected | Market Analysis

Joseph D. Foresi

Back to Market Analysis home Our Thoughts: CSC reported results above expectations highlighted by improved margins. Management did not provide official FY13 guidance. In order to develop a creditable investment thesis, investors will need further color on the prospects for the company going forward. We look to the earnings call to provide that color. Other areas …

Janney/Outsourcing: KPMG 2Q12 Sourcing Survey: Emphasis On Solutions | Market Analysis

Joseph D. Foresi

Back to Market Analysis home KPMG held its 2Q12 Global Sourcing Advisory Pulse Survey. The outsourcing business is turning into a winners versus losers game, as customers are looking for solutions vs. labor arbitrage. Demand for vertical BPO is healthy particularly in F&A. The pricing environment eased, but the vendors’ ability to increase profitability remains …

Janney/WIT: 1Q13 First Take-Results in Line, Guidance Light | Market Analysis

Joseph D. Foresi

Back to Market Analysis home Our Thoughts: Wipro reported quarterly results roughly in line with guidance. Volume growth of 0.8% was below peers with pricing down 1.7%, roughly in line with peers. Wipro guided to -1% to +1% sequential growth in the September quarter. We look to the conference call for more information on the …

Janney/SYNT: Bottom Line Results Blow Past Forecasts | Market Analysis

Joseph D. Foresi

Back to Market Analysis home Syntel fell short of revenue expectations and lowered annual revenue guidance. The demand environment remains challenging. However, earnings results continue to impress albeit with some help from currency. Our takeaway from the recent impressive margins is that Syntel has the unique ability to protect earnings during a slow down like …

Top 10 Takeaways: Don’t Be Fooled-Macro Is Tough | Market Analysis

Joseph D. Foresi

Back to Market Analysis home Earnings season has officially kicked off for the outsourcing group. Investors first taste were two conflicting earnings reports by Infosys and TCS. We agree that TCS’ solid results would imply that Infosys has company specific challenges. However, the macro economic environment remains challenging for both. The macro doesn’t discriminate. There …

INFY: Results Continue To Disappoint | Market Analysis

Joseph D. Foresi

Back to Market Analysis home Infosys reported results below expectations and lowered guidance. The company continues to battle a soft economic backdrop, execution risk derived from company specific changes, and an industry leading margin profile creating a potential barrier to growth. The comparatively better results of a competitor announced the same day imply that perhaps …

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