Infosys, the country’s second-largest software company, on Wednesday, January 7, said it will announce its financial performance for the December-ending quarter (Q3FY26) next week on Wednesday, January 14, around 3:45 pm. This will be followed by a press conference with the company’s leadership team at 4:30 pm.
The leadership team will be part of a press conference at 4:30 pm IST on January 14, 2026,” the company said in its regulatory filing.
Furloughs, cautious client spending to weigh on Q3
Analysts expect a soft performance from domestic tech companies, as the December quarter is seasonally weak due to furloughs. Domestic brokerage JM Financial said the impact of furloughs is similar to last year, while deal activity remains largely cost-efficiency and cost-takeout driven, with no pickup in discretionary spending.
Against this backdrop, the brokerage sees no material change in the demand environment compared to the start of the quarter.
Systematix Institutional Equities said seasonal headwinds are expected to weigh on Q3FY26 performance across its coverage universe. Large-cap IT companies are likely to report sequential USD revenue growth in the range of 0–2%, impacted by furloughs—consistent with historical trends—and fewer working days.
Motilal Oswal also echoed a similar view, noting that clients remain cautious about committing incremental spending to large programs amid macro- and tariff-related uncertainty. “We expect demand to stay steady, at best marginally incremental, until Jan’26 as planning cycles reset and budgets firm up,” said the brokerage.
Infosys Q3 Preview: Brokerages see flat revenue growth; guidance in focus
JM Financial estimates Infosys to report 0.2% QoQ constant-currency revenue growth with a negligible CC impact in Q3 and projects a 20 basis-point margin expansion, aided by currency depreciation.
It expects deal wins to remain strong, projecting that the USD 1.6 billion large deal (NHS) booked during the quarter will supplement the USD 2.5 billion run-rate for bookings. The brokerage expects the lower end of the guidance range to be revised upward by 50 basis points to 2.5–3%.
Motilal Oswal also estimates Infosys revenue growth to be flat QoQ in constant-currency terms, with 2H weaker than 1H, as growth was front-loaded—consistent with prior years.
Operating margins are projected to remain flat, supported by the absence of wage hikes and lower third-party costs. It expects the company to maintain its revenue guidance of 2–3% YoY constant-currency growth.
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