HCL Tech has announced a profit warning: To summarize: Revenue growth will be bad Due to currency issues, their USD earnings are going to be down 80bps. But who cares about USD earnings – we should care about rupee earnings, which at 66 to the USD is juicy right? Right? One customer – a fairly rich one, apparently – is leaving. They are in the “process of disengagement” which is pretty cool lingo to use if you’ve been fired. (You’re being disengaged from the company. Now go.) And then, there is a “ skewness in revenue growth due to transition timelines for complex engagements especially in infrastructure services “. My head is spinning. Or, my cranial vortex is exhibiting centrifugal motion. (I could get a job writing press releases) And that is pretty darn good English if you ask me. Not that it gets the message across but perhaps that was an intended consequence. … (Read On…)
[via Capital Mind » Capital Mind]
Follow us @investmentheat – lists / @sectorheat