Tata Consultancy Services (TCS) Profit Misses Estimates – Bloomberg

A Tata Consultancy Services Ltd. office building in the Electronic City area of Bengaluru, India.

Tata Consultancy Services Ltd. reported earnings that trailed analysts’ estimates as the IT services provider boosted hiring and paid more to retain workers during a technology boom brought about by the pandemic.
Net income at Asia’s largest software outsourcing provider rose to 97.7 billion rupees ($1.3 billion) in the quarter through December, it said in a statement Wednesday. Analysts estimated 99.88 billion rupees on average. Sales climbed to 488.9 billion rupees. The company said it will buy back stock worth 180 billion rupees.