Wipro Limited (WIT) stock is soaring 5.07% in pre-market trading on Thursday following the release of its fiscal Q1 2026 earnings report. The Indian multinational corporation specializing in information technology, consulting, and business process services has surpassed analyst expectations, driving investor optimism.
The company reported earnings per share (EPS) of 3.17 Indian rupees ($0.04), surpassing the FactSet analyst consensus estimate of 3.05 rupees. This represents a significant improvement from 2.87 rupees in the same quarter last year. Wipro's revenue for the quarter ended June 30 reached 221.35 billion rupees ($2.582 billion), slightly beating the analyst consensus estimate of 221.9 billion rupees ($2.580 billion).
Despite a challenging global economic environment, Wipro's performance demonstrates its resilience and ability to maintain growth. The company's focus on digital transformation services and strategic partnerships appears to be paying off, as reflected in the positive market reaction. However, it's worth noting that while the results exceeded expectations, the revenue growth was modest compared to the previous year, indicating ongoing challenges in the IT services sector.
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