Wipro Q2 Earnings: IT Services Revenue Decline 2%, Proposes 1:1 Stock Bonus

Wipro Ltd  (NYSE:WIT) stock slid after the company reported second-quarter results.

The company reported gross revenue of 223.0 billion rupees ($2.66 billion), down by 1.0% year-on-year, missing the analyst consensus estimate of $2.67 billion. 

EPS of 7 cents was in line with the analyst consensus estimate.

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IT Services revenue declined by 2.0% Y/Y to $2.66 billion. Adjusted constant currency IT Services segment revenue decreased by 2.3% Y/Y.

IT Services’ operating margin for the quarter ...