As CFOs and CTOs resume IT spending, Infosys (INFY) has maintained full year guidance for revenue growth of 7-9% on operating margins of 24-25%. Often criticized for its cash hoarding approach, Infosys has begun to spend from its coffers, hiring three experienced research and development professionals from SAP, developing intellectual property and pursuing acquisitions.
From Bernard Horn (Trades, Portfolio)’s Polaris Global Value Fund Q3 2014 Shareholder Letter.
