Wipro Limited (NYSE:WIT) reported modest year-over-year profit growth for its second fiscal quarter ended September 30, 2025, but earnings per share came in below Wall Street expectations.
Net income rose 1.2% YoY to $365.6 million, while EPS of $0.03 missed the analyst estimate of $0.04. Quarterly revenue reached $2.56 billion, roughly in line with the $2.57 billion consensus. Revenue grew 1.8% year over year and 2.5% sequentially.
Large deal bookings surged to $2.9 billion, up 90.5% YoY, while total bookings climbed 30.9% YoY to $4.7 billion, despite a 6.1% sequential decline.
“Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band,” said Srini Pallia, CEO and Managing Director. “Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI.”
IT services segment revenue came in at $2.6 billion, down 2.1% YoY but up 0.7% from the prior quarter. Adjusted operating margin stood at 17.2%, up 0.4% YoY but down 0.1% sequentially, impacted by a $13.1 million provision tied to a customer bankruptcy.
Looking ahead, Wipro expects IT Services revenue for the third quarter ending December 31, 2025, to be between $2.59 billion and $2.64 billion, implying a sequential change of -0.5% to +1.5% in constant currency terms.
“We are gradually returning to growth trajectory with three of our four SMUs growing sequentially in Q2,” said Aparna Iyer, Chief Financial Officer. “Our large deal bookings in the first two quarters have now surpassed the large deal booking for full year FY’25.”
Operating cash flow remained robust at 103.8% of net income, though it fell 17.6% sequentially and 20.7% year over year.
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