Infosys and Wipro's US-listed shares fell in premarket trade after IBM warned that its second-quarter revenue would come in below Wall Street estimates, raising fresh concerns over enterprise technology spending.
Infosys ADRs dropped 7% while Wipro ADRs fell 3% after IBM said it expects second-quarter revenue of $17.2 billion. Analysts were expecting a revenue of $17.86 billion, according to LSEG data. IBM also expects adjusted earnings per share of $2.93, lower than the Street estimate of $3.02.
