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- **Revenue resilience**: $2.6B IT services revenue with 0.3% sequential growth, 17.2% adjusted margin. 
- **AI-driven growth**: Wipro Intelligence platforms (AutoCortex, WealthAI) deliver tangible client outcomes, with 200+ AI agents deployed. 
- **Strong pipeline**: $9.5B TCV booked in H1, 13 large deals in Q2, including 2 mega renewals. 
- **Regional momentum**: Europe returns to growth (1.4% sequential), APMEA up 3%, Americas 1 leads BFSI recovery. 
- **Challenges**: Tariff uncertainties weigh on consumer/energy/manufacturing, cautious outlook on discretionary spend. 


**【CEO Summary Section】**
- IT services revenue: $2.6 billion (0.3% sequential growth in constant currency). Adjusted operating margin: 17.2% (0.4% YoY improvement). 
- Regional highlights: Americas 1 (+5% YoY), Europe (+1.4% sequential), APMEA (+3% sequential). 
- Wipro Intelligence launched: AI-powered platforms (e.g., AutoCortex, WealthAI) driving client outcomes. 
- Deal wins: $4.7 billion TCV, including 2 mega deals in health care and BFSI. 
- Q3 guidance: IT services revenue growth of -0.5% to +1.5% in constant currency.

**【CFO Financial Commentary】**
- IT services revenue: 0.3% sequential growth (0.7% in reported currency), 2.6% YoY decline in constant currency. 
- Operating margin: 16.7% (60bp qoq contraction, 1000bp YoY decline). Adjusted margin: 17.2% (40bp YoY expansion). 
- Sector performance: BFSI (+2.2% sequential), health care (+3.9% YoY), consumer (-7.4% YoY). 
- Financial metrics: Net income up 1% YoY, operating cash flow 104% of net income, gross cash $6 billion. 
- Guidance: Q3 IT services revenue $2.59B-$2.64B (excluding Harman acquisition). 

**【Q&A Key Highlights】**
- **Demand environment**: Strong pipeline ($9.5B TCV in H1), focus on vendor consolidation, AI adoption, and consulting-led programs. U.S. clients prioritizing cost optimization and AI implementation. 
- **AI strategy**: Wipro Intelligence integrates delivery and industry platforms, embedding productivity gains and responsible AI guardrails. 200+ AI agents deployed across sectors. 
- **Hiring**: 2,900 freshers onboarded in Q2; demand-driven hiring continues. No wage hike decision yet. 
- **Europe growth**: Phoenix deal to ramp in Q3, pipeline conversion driving momentum. 
- **Risks**: Tariff uncertainties impacting consumer, energy, and manufacturing sectors; cautious outlook on discretionary spending. 
- **Public sector deals**: No specific focus, but strategic market units (e.g., BFSI, health care) remain core. 


Wipro Limited (WIT) Q2 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

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