Infosys (INFY) Q4 24/25 (Media) earnings summary

Executive summary

• FY25 revenues reached $19.28 billion, up 4.2% in constant currency year-over-year, with operating margin expanding by 0.5% to 21.1%.

• Achieved $11.6 billion in large deal wins, with 56% net new, and $4.1 billion in free cash flow.

• Strategic acquisitions in the U.S. (energy, consulting), Australia (cybersecurity), and a new joint venture partner in Japan.

• AI-led transformation is a key growth area, with over 200 AI agents developed and 400 AI projects underway.

• The Board proposed a final dividend, with total dividend up 13.2% over last year.

Financial highlights

• FY25 reported revenues grew 3.9% year-over-year to $19.28 billion.

• Operating profit for FY25 was $4.07 billion, up from $3.83 billion in FY24.

• Net profit for FY25 was $3.16 billion, nearly flat year-over-year.

• Free cash flow reached $4.1 billion, up 41.8% year-over-year.

• Q4 revenue declined 3.5% sequentially, mainly due to lower third-party costs and seasonality.

Outlook and guidance

• FY26 revenue growth guidance is 0%-3% in constant currency, reflecting heightened uncertainty.

• Margin guidance for FY26 is 20%-22%.

• Guidance scenarios factor in both potential deterioration and marginal improvement in the environment.

• Hiring plan for FY26 targets 20,000+ freshers, mainly to backfill attrition and support growth.