Infosys sees Q2 cloud revenues cross $1 bln, raises lower end of revenue projection, reduces margin band

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Infosys, yesterday, raised the lower end of its revenue projection band for the current fiscal year, but lowered the upper bound of its operating margins — capturing an industry-wide trend amid a potential recession in the Indian IT services companies' biggest markets. Overall digital technologies related services continued to grow strongly, but the company also saw strong demand for its core IT outsourcing services, CEO Salil Parekh said yesterday