Tata Consultancy beats views

Investor's Business Daily

India's biggest software outsourcer said Q3 earnings rose 23% to 35.52 bil rupees, or $652 mil, after rival Infosys (INFY) reported strong results on Fri. Revenue jumped 18.6% to 156.63 bil rupees. Analysts were expecting 152.42 bil rupees. The positive Tata and Infosys results could indicate that key clients in the U.S. and Europe are increasing their spending in India's $100 bil outsourcing industry. Infosys shares fell 0.6% to 51.93.

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