Wipro Limited Q2 Earnings Miss Estimates Despite Revenue Growth and Strong Deal Wins

Wipro Limited (NYSE: WIT) reported mixed second-quarter results, with earnings per share (EPS) of $0.03 falling short of the $0.04 analyst consensus. Net income edged up 1.2% year-over-year to $365.6 million, while revenue grew 1.8% to $2.56 billion, meeting expectations. The IT services firm highlighted a 90.5% surge in large deal bookings to $2.9 billion, signaling robust demand despite macroeconomic headwinds.

CEO Srini Pallia attributed the performance to execution discipline and expanding client traction in Europe and APMEA regions. Margins held steady, but sequential net income declined 2.5%, reflecting ongoing cost pressures. The stock dipped 2.01% to $2.68 as investors weighed the earnings miss against the strong deal pipeline.

Guidance for Q3 IT services revenue suggests muted sequential growth of up to 1.5%, with the midpoint of $2.615 billion representing cautious optimism. The results underscore the competitive challenges facing legacy IT services providers in an era of cloud transformation and generative AI disruption.