Stock Track | Wipro Plunges 5.39% in Pre-Market as Q3 Earnings Miss Estimates, Profit Dips

Stock Track

01/16

Wipro Limited (NYSE: WIT) saw its shares plummet 5.39% in pre-market trading on Friday, following the release of its third-quarter fiscal 2026 results. The decline was driven by a miss in earnings per share (EPS) and a year-over-year drop in net profit.

The company reported an EPS of 2.97 Indian rupees ($0.03), falling short of the FactSet estimate of 3.22 rupees. Net income declined 7% year over year to 31.2 billion rupees ($347.2 million), partly due to a one-time charge from India's new labor codes. Despite revenue growth of 5.5% to 235.6 billion rupees ($2.622 billion), soft bookings and a 8.4% drop in large-deal bookings weighed on investor sentiment.

Wipro's IT Services operating margin improved to 17.6%, but the market focused on the weaker profitability and outlook. The company expects Q4 IT Services revenue to be flat to 2% higher sequentially, failing to reassure investors.

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The decline was driven by a miss in earnings per share (EPS) and a year-over-year drop in net profit.</p><p>The company reported an EPS of 2.97 Indian rupees ($0.03), falling short of the FactSet estimate of 3.22 rupees. Net income declined 7% year over year to 31.2 billion rupees ($347.2 million), partly due to a one-time charge from India's new labor codes. Despite revenue growth of 5.5% to 235.6 billion rupees ($2.622 billion), soft bookings and a 8.4% drop in large-deal bookings weighed on investor sentiment.</p><p>Wipro's IT Services operating margin improved to 17.6%, but the market focused on the weaker profitability and outlook. The company expects Q4 IT Services revenue to be flat to 2% higher sequentially, failing to reassure investors.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WIT","symbol_name":"Wipro Limited","start_time":0,"source_url":"","article_id":"1162393288","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1162393288","pubTimestamp":1768568548,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Wipro Limited (NYSE: WIT) saw its shares plummet 5.39% in pre-market trading on Friday, following the release of its third-quarter fiscal 2026 results. 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