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Infosys said it sees revenue in dollar terms rising 5 percent to $7.34 billion in the fiscal year to March 2013, down from its April estimate of 8-10 percent growth. Most analysts were expecting Infosys to trim its growth forecast to 6-8 percent. “Infosys’s guidance is bad and it will have implications for the sector as well. It clearly reflects a slowdown in Europe and in the United States and (problems with) the company’s internal policies,” said Paras Adenwala, a fund manager at Capital Portfolio Advisors.

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Infosys cuts outlook; TCS profit tops forecasts - Yahoo! Finance

Still seeing positive growth, but not as much as they previously thought. Still, the fact that the low-end of the tech spectrum is still holding on to 5% global growth while the rest of the world putters along at 1-2% shows you the resilience of IT spend.

Tags: tech