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Tata Consultancy Services reports higher income, revenues for Q2'18

Software services exporter Tata Consultancy Services Ltd. reported second-quarter net income of $1 billion, or $0.52 per share, up 8.3% year over year, as revenue increased 3.2% to $4.74 billion.

The company's operating margin stood at 25.1%, a quarterly increase of 1.7%.

Digital revenue came in at 19.7%, up 5.9% quarter over quarter and 31% year over year.

"We experienced robust volume growth in Q2, driven by good demand across multiple industry verticals," said CEO Rajesh Gopinathan. "Strong, broad-based client metrics this quarter demonstrates our increasing success with newer customers. Large deal wins this quarter, a good pipeline, and bottoming out of the retail sector softness positions us well."

According to the company, all industry verticals grew above the company average with the exception of retail and communications, media and information. Travel and hospitality rose 8% quarter over quarter, energy and utilities increased 7.2%, and life sciences and healthcare advanced 3.6%. In annual terms, revenue growth rose by 9.5% with the exception of banking, financial services and insurance, and retail.

Growth in revenue was strongest in Europe, up 5.3%, followed by Latin America and Asia-Pacific.