Infosys reported a 6% year-over-year increase in consolidated net profit for the second quarter. It lowered its fiscal 2027 revenue growth guidance to 1–2%, from 1.5–3%. The new range’s midpoint was below most analyst expectations.
The company’s U.S.-listed shares fell nearly 8% in premarket trading on Friday, October 23.
Adding to investor concerns, Infosys and other major IT outsourcers are facing a U.S. crackdown on H-1B visas. The U.S. Department of Labor suspended Infosys from its Permanent Labor Certification Program, a key route for hiring foreign skilled workers, amid ongoing criminal investigations into visa abuses. The action adds uncertainty to the company’s U.S. business model and contributed to the share decline.