Wipro Beats On Profit But Stock Still In Downtrend

Wipro Ltd posted a better than expected second-quarter profit on Tuesday, October 17, 2017. Q2 profit rose 6 percent to 21.92 billion rupees ($337.13 million), beating analysts' estimate of 20.80 billion rupees. Revenue from IT services rose to 131.69 billion rupees from 131.37 billion rupees, slightly above its earlier forecast.

Wipro stock continues in a downtrend which means Wall Street isn't buying the growth story.

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