Infosys Ltd.AI 10.5% of revenue, $5.2 Bn deals, FY27 growth guide cut

Infosys' Q2 FY27 call, held on 23 October 2026 after a media conference the same day, reported revenue of $5,145 million, up 1.2% on the quarter and 1.5% on the year in constant currency, which management said was below its expectations as volumes were soft and price increases lower than expected.

AI revenue reached 10.5% of the total, up 29% on the quarter from 8.2%. Large deal wins were $5.2 billion, 62% net new, including a net new $2 billion plus seven-year mega deal expected to add over 1% to FY28 growth. Operating margin held at 21% and free cash flow was $928 million. The full-year constant-currency revenue growth guide was cut to 1% to 2% from 1.5% to 3%, while the 20% to 22% margin guide was kept, with H2 margins facing compensation hikes and AI productivity sharing.

Of 23 earlier promises, 1 was missed, 3 were met, 1 beaten, 13 are on track, 1 is partly met, 1 cannot be checked yet and 3 were not mentioned.