Wipro shares nosedived over 9 pc after missed earnings expectations
Shares of IT major Wipro nosedived on Monday by nearly 9.3 per cent over missed expectations in its April-June quarter results and a weak guidance for the next quarter.
Wipro on Tuesday said it would invest $1 billion (Rs 7,454 crore) over the next 3 years to expand cloud services for business transformation of its clients worldwide.
“We will invest $1 billion over the next 3 years in cloud services, technologies, acquisitions and partnerships to simplify and accelerate business operations of our clients,” said the software major in a statement.
The global giant also unveiled FullStride cloud services to enhances its offerings and talent to its clients.
Advertisement
“As the cloud opportunity accelerates, FullStride services bring together our full portfolio of capabilities, offerings and talent to our clients across verticals,” it said.
With consistent growth in cloud business, the company employs about 79,000 techies to provide a range of cloud services to Telefonica Germany, O2, Verifone and Metro AG in Europe.
“With the introduction of the chief growth office, we are renewing our focus on global partnership ecosystem, amplifying and simplifying how we go to market to orchestrate cloud transformation for our clients,” said Wipro Chief Growth Officer Stephanie Trautman.
Metro chief information officer Timo Salzsieder said as cloud adoption and innovation were an essential part of its IT strategy, migrating to the cloud would enable decentralisation, agility, speed and flexibility in engineering and development.
Advertisement
