Wipro revenue, profit flat in Q1as weak discretionary spending continues to weigh

IT services player Wipro on Thursday reported flat revenue and profit growth on year as the company continues to face headwinds in discretionary spending and delays in deal conversations.

The company guided for IT services revenue in the September quarter to be in the range of $2.57 billion to $2.63 billion, translating to sequential growth guidance of negative 1.5% to positive 0.5% in constant currency terms.