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Wipro Q2: Analysts cut EPS est, price targets to factor more revenue slide

Wipro Q2 results review: The stock took a hit and fell up to 4 per cent intra-day as brokerages lowered earnings estimates and trimmed price targets

Wipro
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Harshita Singh New Delhi

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Wipro’s September quarter results (Q2FY24) were in line with weak industry trends, reflecting mounting worries of narrowing client spending for IT services. 

Similar to other peers, Wipro expects a continued revenue decline with Q3 constant currency (cc) IT revenue projected to fall 3.5 to 1.5 per cent sequentially, ahead of what many analysts expected. 

The stock took a hit on Thursday and fell up to 4 per cent intra-day as brokerages lowered Wipro’s earnings estimates for financial year 2024 and 2025 and trimmed price targets on the scrip. 

The 2 per cent sequential drop in its cc revenue in Q2FY24

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