Infosys disappoints with low revenue forecast

Infosys Technologies Ltd forecasted annual revenue less than what analysts expected, which has disappointed the industry and also raised doubts about the growth of the IT sector, sources reported. Infosys touted lower revenues for the year because of the uncertain currency price and economic instability, which may push down the company's share by more than 9 percent, sources added. Looking at the Infosys disappointment, experts will estimate a lower revenue output for other firms as the prior is one of the top earner and if it is not doing well, then others may too tone down their revenue expectations. The top 3 IT companies have been fighting it out for talent share and better currencies. To retain employees, the companies are giving raises to employees which are reducing profit margins for the firms. Infosys itself is planning to increase 10-12% wages of staff without any increase in prices which has also led to low revenue estimations. The IT giant is looking forward to beat the odds of slow economic recovery of Europe and US and post better growth than its forecast.