On April 15, <a href="http://www.businessinsider.in/Infosys-sets-an-example-again-and-this-time-it-is-food-waste-management/articleshow/51587825.cms">Infosys</a>, India’s second largest software exporter will be declaring financial performance for the fourth quarter of FY 2015-16. Even though <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> faced a seasonal weakness this year, estimates suggest that a marginal <a href="http://www.businessinsider.in/Infosys-growth-story-is-unstoppable-and-it-may-become-a-20-billion-company-by-2020/articleshow/51252593.cms">rise in the business momentum</a> and weaker rupee are what would help the Indian tech giant bring in better revenue growth for the March 2016 quarter. 
 
According to the average of estimates by seven brokerages and Intelligence Group's forecast, Infosys’s revenue will grow sequentially by 4.3% to Rs 16,583.2 crore compared with 1.7% growth in Q3. This will make the net profit grow by a tad 0.7% to Rs 3,487.8 crore, which is slower than the 2% increase that the December 2015 quarter saw. 
 
Company’s revenue that is dollar denominated will most likely increase by 2-2.2% sequentially in the March 2016 quarter, way ahead of the 0.6% growth in Q3. 
 
Analysts also expect that the <a href="http://www.businessinsider.in/Here-is-how-Vishal-Sikka-has-become-the-man-Infosys-always-wanted/articleshow/51454896.cms">company will aim</a> for 11 to 13% growth in the dollar-denominated revenue for this fiscal. 
 
<a href="http://media2.intoday.in/btmt/images/stories/vishal-sikka_660_011515094302.jpg">Image source</a>

Infosys Q4 preview: Despite seasonal weakness, Y-o-Y revenue growth and rise in net profit

<ul><li><keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) will post its third-quarter earnings on January 17.</li><li>The quarter is seasonally weak of IT companies and TCS is expected to post moderate growth.</li><li>Key announcements to look out for are updates around budget trends for 2021, the slowdown in banking and retail, and future hiring.</li></ul>Tata Consultancy Services (TCS) will post its third-quarter earnings today. Estimates are as low zero growth in dollar revenue, but as seen in the case of Infosys even a 1% growth was <a href="https://www.businessinsider.in/business/corporates/news/infosys-earnings-report-muted-quarterly-growthly-of-1-in-q3-2020/articleshow/73190620.cms">enough to cheer the market</a>. At today's opening bell TCS was trading at ₹2240.75 and on the rise. The company’s banking, financial services and insurance business continues to be weighed down by the softness of European banks amid the crisis. Retail will also continue to see pressure due to macro-economic factors. However, manufacturing and communications are forecast to post strong growth. "TCS is expected to post a moderate growth of 1.1% quarter-on-quarter in USD terms," states Narlonia’s market analyst, Niharika Ojha. 
 
 
 
 
 
 
 
 
 
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 Revenue growth could end up being even lower considering furloughs and last quarters numbers that fell below expectations, according to Nirmal Bang. EBIT margins are expected to improve by 50 basis points (bps) to 24.5% since the last quarter has been free of wage hikes and improvement in operational efficiency. However, the additional costs of external consultants will continue to drag margins that may keep TCS from achieving its goal of widening margins to 26-28% by the end of the year. In light of lower revenue growth as well as slower growth of other incomes, profits are expected to decline by a quarterly 1.3%. Announcements to track Today’s earnings call will be integral to establish the outlook of budgets and client spending in 2021 — considering the US and European markets that are currently under stress. Supply-side commentary on onsite talent, localisation, sub-contracting and availability of offshoring lever, are also key monitorables according to HDFC Securities’ report. Till now, TCS has managed hiring and attrition better than its peers, like Wipro and Infosys. Trends for onboarding new talent in the coming year will also be key for the company. See also: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-tech-mahindra-infosys-wipro-q3-2020-earnings/articleshow/73169254.cms">HCL Tech and Tech Mahindra may post better earnings as Euro bank crisis affects Infosys, Wipro</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-earnings-report-muted-quarterly-growthly-of-1-in-q3-2020/articleshow/73190620.cms">Infosys has raised full-year growth guidance⁠— the stock market was a step ahead of it</a> <a href="https://www.businessinsider.in/business/corporates/news/us-iran-tensions-strengthen-dollar-giving-boost-to-indian-tech-stocks/articleshow/73081294.cms">US - Iran tensions strengthen dollar giving boost to Indian tech stocks</a>

The expectations from TCS for Q3 are so poor — there may be room for surprise

<ul><li>TCS, Infosys, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, and other Indian IT services companies are in for a lush quarter ahead. </li><li>Analysts expect a stream of new deals to come in as supply bottlenecks open up, and more companies increase tech spend with a bigger focus on digital adoption. </li><li>With employees continuing to work from home and discretionary spending muted, margins are likely to remain cushioned in the second quarter. </li></ul>Expectations from the India IT services sector are high in the upcoming earnings season. It is expected to be among the first to recover from the coronavirus pandemic’s backlash. And the stellar rally across IT stocks stands testament to this optimism. “We expect robust commentaries, record deal wins and guidance upgrades by all companies,” Edelweiss Research said in its preview. If not setting a new record, most analysts expect deal win numbers to revert to the pre-COVID levels with supply-side issues now resolved. I.T. Sector: Q2 earnings expectations <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td colspan="2" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarterly revenue growth estimate (CC) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Phillip Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td></tr></tbody></table> Drive to be digital The main driving force behind the optimism for IT companies is the boost that the coronavirus pandemic gave to digital adoption. The timelines to transform core IT systems were now suddenly compressed. From cloud to the Internet of Things (IoT) to cybersecurity, more companies are now looking at digitisation as a necessity rather than a luxury, as many a CTO have reiterated over the past couple of months. “We reiterate our positive stance on IT services given we expect an acceleration in IT spending driven by the shift to digital,” noted Japanese brokerage firm, Nomura. The other two industry tailwinds driving acceleration are bigger tech spends and vendor consolidation, in addition to an <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">outsourcing wave</a> on the horizon for Indian IT companies to reap the benefits. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deals in the last three months </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Phoenix, Morrisons, Coop, and ABB </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VanGuard and CodEd </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ericsson </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marelli </td></tr></tbody></table> More money in the bank In addition to strong demand commentary, savings will continue to cushion margins as employees work from home, and discretionary spending continues to stay low. Cross currency benefit will likely remain between 0.2% to 1.85%. Profitability is also expected to rise, as operating margins improve with better utilisation. It will be important to watch out for any details on hiring or wage hikes in the near future from management commentary. Rupee appreciation may lead to a slight negative impact on rupee revenue. What next? Analysts expect Indian IT services companies to improve their outlook following HCL Tech’s mid-quarter review that issued a <a href="https://www.businessinsider.in/stock-market/news/hcl-tech-share-price-jumps-after-mid-quarter-guidance-pulling-tcs-infosys-wipro-and-tech-mahindra-in-the-green-along-with-it/articleshow/78103743.cms">revenue growth guidance of 3.5%</a> for the second quarter. Revenue growth will be led by a strong spurt across all industries, verticals and geographies, according to Edelweiss Research — much of it to recuperate the losses that were hit due to supply side issues. “Moreover, pandemic-led beaten down segments like retail, transportation and ER&amp;D will make a strong bounce back on low base,” the report said. However, others advise exercising a little caution. “With the US presidential elections approaching and valuation bordering on expensive, we believe the sector could remain sideways in the medium-term. We remain cautiously optimistic on the sector,” said Philip Capital. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rally in past one month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.66% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/gst-compensation-deadlock-continues-government-to-release-20000-crore-cess-tonight-and-offers-relief-for-small-companies/articleshow/78496779.cms">GST compensation deadlock continues — government to release ₹20,000 crore cess tonight and offers relief for small companies</a> <a href="https://www.businessinsider.in/defense/news/the-indian-air-force-is-ready-for-a-two-front-war-with-china-and-pakistan-says-air-chief-marshal-rks-bhadauria/articleshow/78488605.cms">The Indian Air Force is ready for a two-front war, says Air Chief Marshal RKS Bhadauria</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-shares-hit-record-high-board-to-mull-over-share-buyback-and-earnings-on-october-7/articleshow/78486980.cms">TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings</a>

TCS, Infosys, Wipro and HCL Tech expected to announce more deals in the second quarter

<ul><li><keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword> on Friday said it is previewing a selection of new emoji that will be available this fall with a free software update for iPhone, iPad, Mac and Apple Watch.</li><li>Celebrating the <keyword id="3500016" type="PERSON" weightage="20" keywordseo="World-Emoji-Day">World Emoji Day</keyword>, the iPhone maker revealed the newest emoji designs including bubble tea, pinched fingers, boomerang, transgender symbol, dodo, beaver, nesting dolls, coin, anatomical heart, lungs, ninja, and tamale </li><li>Apple typically adds new emoji just after the release of the new operating systems in the fall. </li></ul> Apple on Friday said it is previewing a selection of new emoji that will be available this fall with a free software update for iPhone, iPad, Mac and Apple Watch. Celebrating the World Emoji Day, the iPhone maker revealed the newest emoji designs including bubble tea, pinched fingers, boomerang, transgender symbol, dodo, beaver, nesting dolls, coin, anatomical heart, lungs, ninja, and tamale Apple typically adds new emoji just after the release of the new operating systems in the fall. It means one would probably look for them in iOS and iPadOS 14.1 or 14.2, and in macOS Big Sur version 11.1 or 11.2. With new Memoji, users will have new ways to express themselves, like new hairstyles. There are 11 new hairstyles, including man bun, top knot, simple side part, waves, and enhancements to fades. One can customise Memoji with new face coverings, including the colour, to match look. The users can show off style, hobby or profession with 19 new headwear styles, including a durag, tichel, cyclist helmet, nurse cap, or swim cap. Three new Memoji stickers let users send fist bump, blush, or even a hug to friends. In iOS 14, there are more ways to create your look with Memoji, where you can customisation options let you express yourself with over a trillion possible combinations. SEE ALSO: <a href="https://www.businessinsider.in/education/news/in-india-schools-cant-conduct-online-classes-for-more-than-90-minutes-for-class-1-to-8-and-other-guidelines-to-follow/articleshow/76976329.cms">In India, schools can’t conduct online classes for more than 90 minutes for class 1 to 8 — and other guidelines to follow</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-vs-tcs-vs-wipro-comparison-of-share-price-and-earnings/articleshow/76996578.cms">Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance</a> <a href="https://www.businessinsider.in/science/health/news/the-world-cant-wait-for-good-news-from-oxford-serum-institute-and-astrazeneca-but-that-is-only-the-first-step/articleshow/76996301.cms">The world can’t wait for good news from Oxford, Serum Institute and AstraZeneca ⁠— but that is only the first step</a>

On World Emoji Day, Apple previews new emojis that will be available on iOS soon

<ul><li>For the current financial year, <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> said that it’s likely to maintain its quarterly run rate of winning deals worth $7-9 billion.</li><li>TCS’ COO Subramaniam added that it’s natural to expect some softness in long-term deals and decisions, given the macro environment.</li><li>There is an increasing sense of caution amongst clients but it hasn’t made its way into deal wins as yet, says TCS. </li></ul>IT major TCS on Monday said that it has not yet seen any caution that’s being exercised by clients making its way into its deal wins. It said that it’s likely to maintain its quarterly run rate of winning deals worth $7-9 billion. “There is no need to change that kind of focus. In fact, we would like to win more,” <keyword id="4196930" type="General" weightage="20" keywordseo="N-Ganapathy-Subramaniam" source="Orion">N Ganapathy Subramaniam</keyword>, the chief operating officer of TCS said in a press conference after<a href="https://www.businessinsider.in/business/corporates/news/tcs-q2-net-profit-crosses-10000-cr-for-the-first-time-reports-10-sequential-growth/articleshow/94764279.cms"> it reported a 10% growth in July-September net profit</a> to ₹10,431 crore and 4.8% growth in revenue to ₹55,309 crore, beating street expectations. The order book of the company stood at $8.1 billion at the end of the September quarter. Talks of a possible recession in its most important market – North America – has had equity markets worried about the IT sector. “We will know in 3-6 months about next year’s budgetary decisions,” said Rajesh Gopinathan, CEO and MD of TCS, referring to the US. Subramaniam also added that it’s natural to expect some softness in long-term deals and decisions, given the macro environment. “With regards to Europe, we will see how the winter will be, and expect some softness,” he added. Gopinathan said that Covid has proved that tech is core to transformation, growth and resilience and that TCS has a relevant portfolio for that. “We are seeing an increasing caution in discussions with clients. We cannot say that we are totally insulated from it but as we said last quarter, we are vigilant of the environment and focussed on a set of customers,” said Gopinathan. Last month, Accenture gave a <a href="https://www.businessinsider.in/business/corporates/news/accentures-disappointing-q1-and-fy23-forecasts-indicate-more-pain-for-the-it-sector/articleshow/94392402.cms">weak guidance of around</a> 8-11% for the fiscal year – which has made markets and analysts cautious about the prospects of the IT sector, and its demand outlook. So much so that Jefferies too said that it will closely watch out for a revision in FY23 guidance from Infosys, HCL Tech and Coforge. “However, we do not expect it to happen as a part of the second quarter result announcements,” said Jefferies’ <a href="https://www.businessinsider.in/business/corporates/news/infosys-to-lead-it-sectors-q2-show-with-4-revenue-growth-says-jefferies/articleshow/94606976.cms">IT sector preview</a>. Since the last quarter, deal sizes have been coming down and that has continued for this quarter too. Most of the deal wins are in the $200-400 million range. “There are none above $500 million and nothing to call out,” said Samir Seksaria, chief financial officer of the company. He also said that the headwinds from the supply-side challenges are abating – which has set them up well for the seasonally weak second half of the year. Gopinathan said that they are staying close to the customers. “We are trying to carve a niche and minimize the impact of volatility,” he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-an-ethical-issue-says-tcs-hr-head/articleshow/94765592.cms">Moonlighting is an ethical issue, says TCS HR head</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-q2-net-profit-crosses-10000-cr-for-the-first-time-reports-10-sequential-growth/articleshow/94764279.cms">TCS Q2 net profit crosses ₹10,000 cr for the first time, reports 10% sequential growth</a>

Slowdown hasn’t affected deal wins yet but seeing softness in long-term deals: TCS

<ul><li><keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> is set to post its first-quarter earnings after market hours on July 27. </li><li>Analysts believe, among the top IT services companies, Tech Mahindra may be the worst hit due to its exposure to the BPO business. </li><li>Tech Mahindra’s revenue in Q1FY21 could see a quarterly drop of nearly 9%. </li></ul>The April through to June was expected to be a washout for the IT companies as clients turned cautious on discretionary spending amidst the pandemic. Among them, Tech Mahindra is likely to be the worst-hit, according to analysts. A lot will depend on how its BPO business has fared, and what plans Tech Mahindra has for 5G implementation going ahead. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth expectation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.7% </td></tr></tbody></table> “Tech Mahindra in our coverage universe will likely see the biggest QoQ drop in revenue. This is despite the addition of some inorganic revenues in 1Q,” said Nirmal Bang’s preview. Dependence on communications vertical The company’s communication business has been a revenue driver during the past few quarters accounting for more than 40% of its overall income. Much of the quarterly decline expected from the Indian IT services company is with respect to how severely that part of the business has been hit. <div type="image" title="tech m verticals" msid="77189905" hostid="261" caption="&amp;lt;p&amp;gt;Tech Mahindra verticals&amp;lt;/p&amp;gt;"></div> Pricing pressure from clients, project ramp downs, and client-specific challenges in BPO are among the minefield that Tech Mahindra will have to navigate this quarter, according to ICICI securities. However, in the long term, the brokerage believes Tech Mahindra’s leadership in the communication vertical will make it a key beneficiary of vendor consolidation in the segment. “A key thing to monitor would be the receivables situation. Among the companies we cover, Tech Mahindra has the worst numbers. We need to see whether that has undergone further deterioration,” said Nirmal Bang. Tech Mahindra’s stock price has risen 27% since April to close at ₹652.75 during the last trading session. In comparison, NIFTY IT rose by around 116% during the same time period. <div type="image" title="Tech Mahindra Stock price" msid="77189914" hostid="261" caption="&amp;lt;p&amp;gt;Tech Mahindra stock price since April 1&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">TCS to kickstart lateral hiring and bring back 5% of its employees to offices</a> <a href="https://www.businessinsider.in/careers/news/infosys-work-from-home-not-permanent-says-coo-pravin-rao/articleshow/76995155.cms">Infosys is still on the fence when it comes to making work from home a permanent change</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-company-profit-is-down-4-8-and-revenue-has-dipped-by-2-in-q1fy21/articleshow/76980089.cms">Infosys gives annual guidance of up to 2% growth this year as profit plummets by 4.8% and revenue dips 2% in Q1</a>

Tech Mahindra likely to be the worst-hit of all the Indian IT services giants in first quarter

San Francisco, Video meeting app <keyword id="10296" type="ENTERTAINMENT" weightage="20" keywordseo="Zoom">Zoom</keyword> is all set to roll out the first phase of its end-to-end encryption (E2EE) offering from next week, initially as a technical preview for a month during which the platform will solicit feedback from users. Bot free and paid Zoom users around the world can host up to 200 participants in an end-to-end encryption meeting on the platform, Zoom said on Wednesday during its <keyword id="10111930" type="UNKNOWN" weightage="20" keywordseo="zoomtopia-2020">Zoomtopia 2020</keyword> event. "End-to-end encryption is another stride toward making Zoom the most secure communications platform in the world," said Zoom CEO Eric Yuan. "This phase of our E2EE offering provides the same security as existing end-to-end-encrypted messaging platforms, but with the video quality and scale that has made Zoom the communications solution of choice for hundreds of millions of people and the world's largest enterprises." Zoom first announced its plans to build an end-to-end-encrypted meeting option into its platform in May. The US-based company had said that since releasing the draft design of the platform's end-to-end encryption on May 22, it has engaged with civil liberties organisations, child safety advocates, encryption experts, government representatives, its own users, and others to gather their feedback on this feature. Zoom was earlier sued by one of its shareholders who alleged in the complaint that the platform failed to disclose some vulnerabilities and that the services did not provide end-to-end encryption. "We're pleased to roll out Phase 1 of 4 of our E2EE offering, which provides robust protections to help prevent the interception of decryption keys that could be used to monitor meeting content," Max Krohn, Zoom's Head of Security Engineering, wrote in a blog post on Wednesday. "To be clear, Zoom's E2EE uses the same powerful GCM (Galois/Counter Mode) encryption you get now in a Zoom meeting. The only difference is where those encryption keys live," Krohn said. To use the new security feature, customers must enable E2EE meetings at the account level and opt-in to E2EE on a per-meeting basis. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/chinese-president-xi-jinping-tells-marine-troops-to-be-on-high-alert-and-prepare-for-war/articleshow/78675715.cms">Chinese President Xi Jinping tells marine troops to be on ‘high alert’ and ‘prepare for war’ as tensions in the South China Sea continue to grow</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-share-price-hits-fresh-52-week-high-after-highest-ever-deal-wins-of-over-3-billion/articleshow/78673575.cms">Infosys share price hits fresh 52-week high after highest-ever deal wins of over $3 billion</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-google-amazon-and-facebook-under-the-scanner-for-data-protection-violations-as-supreme-court-calls-on-rbi-and-npci-to-investigate/articleshow/78678174.cms">Whatsapp, Google, Amazon and Facebook under the scanner for data protection violations as Supreme Court calls on RBI and NPCI to investigate</a>

Zoom's end-to-end encryption to enter first phase of rollout starting next week

<ul><li>Wipro's share price is up by 16% on Wednesday, morning after the Indian IT giant reported its Q1FY21 results. </li><li>Wipro's revenue took a massive dip of 5.3% in Q1Fy21 as compared to the preview quarter. </li><li>The company’s profit was up by 2.1% quarter on quarter. </li><li>It has 42 new customers but most its revenue this quarter came from existing clients </li></ul>Wipro’s revenue plummeted by 5.3% in its first quarter of 2020-21 but its profits were up by 2.1% quarter-on-quarter (QoQ). “We expanded the margins during the quarter, despite lower revenues, on the back of solid execution of several operational improvements and rupee depreciation,” said Wipro’s Chief Financial Officer (CFO), Jatin Dalal. <div type="image" title="wipro profit (1)" msid="76975094" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s profit over the last five quarters&amp;lt;/p&amp;gt;"></div> Wipro's stock price was up by 16% during the morning trade on Wednesday, after the company announced its Q1FY21 results. <div type="image" title="wipro share price (1)" msid="76975119" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s share price over the last month&amp;lt;/p&amp;gt;"></div><div type="Article" hostid="261" msid="76973619" title="Wipro share price 16% increase leads to surge in Infosys share price too" mstype="2" mssubtype="0"></div> A fact that played a factors in both profits and margins was foreign exchange. A weaker rupee helps Indian IT services companies because since they export most of their services, and so their billing is in dollars. "We have a taken a larger provision which is more call led, as per expected credit loss, which is driven by the environment not led by a specific situation or specific customer — or any specifics for that matter," Wipro's management told analysts during the earnings call. <div type="image" title="wipro margins" msid="76975228" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s IT services margins over the last five quarters&amp;lt;/p&amp;gt;"></div> "The view is clearly to shoot for stabilisation of the revenue of the top line in the second quarter.," said Wipro CEO Theirry Delaporte during the earnings call. The company has added 42 new customers to its docket, including 13 which are larger than $100 million including the John Lewis Partnership in the UK. It also entered into a strategic multi-year deal with Germany’s E.ON energy company. However, most of its revenue — 99.7% — comes from existing clients. <div type="image" title="Wipro revenue" msid="76975251" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s gross revenue over the last five quarters&amp;lt;/p&amp;gt;"></div> With respect to hiring, Wipro plans to continue adding new employees to its roster in the coming quarter. “Lateral hiring never stopped. This quarter Wipro has hired 7,000 people gross and we’ve hired across the globe, wherever there was demand,” said Wipro's Chief Human Resources Officer, Saurabh Govil. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms">Wipro share price 16% increase leads to surge in Infosys share price too</a> <a href="https://www.businessinsider.in/careers/news/wipro-new-hiring-to-continue-as-it-adds-7000-employees-in-q1/articleshow/76972570.cms">After last quarter’s massive dip, Wipro adds 7,000 employees with plans to continue hiring in Q2</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-reported-revenue-dips-but-profit-grows-in-q1-fy21-results/articleshow/76875445.cms">TCS revenue dips by 6.3% ⁠— CEO says nearly all verticals were hit by COVID-19 crisis</a>

Wipro management pins hope on wider margin and new clients while revenue takes a dip

<ul><li><keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) will kick off the earnings season with its second-quarter results on October 7. </li><li>The <keyword id="680086" type="PERSON" weightage="20" keywordseo="Indian-IT-services">Indian IT services</keyword> behemoth is expected to post revenue growth and better margins on the back of at least ten deal wins over the last three months. </li><li>Commentary on wage hires, new hiring and how the 25/25 work from home model is impacting the company’s financials will be crucial to watch. </li></ul>Tata Consultancy Services (TCS) became the second Indian company to cross the ₹10 lakh crore barrier yesterday as it gears up to announce its quarterly earnings on October 7. The Indian IT services behemoth share price jumped 14.82% over the last one month as IT stocks rallied after HCL Tech’s mid-quarter update. Yesterday’s record-high came after TCS shared its plans to consider buyback of shares during the board of directors meeting tomorrow. <div type="image" title="TCS share price 1 (2)" msid="78511904" hostid="261" caption="&amp;lt;p&amp;gt;TCS stock value over the last one month&amp;lt;/p&amp;gt;"></div> Analysts are optimistic that the TCS will post at least 2.6% revenue growth after its streak of deal win announcements over the last three months — a refreshing change from the <a href="https://www.businessinsider.in/business/corporates/news/tcs-reported-revenue-dips-but-profit-grows-in-q1-fy21-results/articleshow/76875445.cms">6.3% dip in revenue </a>that was seen in the prior quarter along with profit in the red by as much as 13%. <div type="image" title="tcs revenue" msid="78512114" hostid="261" caption="&amp;lt;p&amp;gt;TCS revenue over the last five quarters&amp;lt;/p&amp;gt;"></div> TCS new deal wins in the second quarter: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Forth ports </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Travel </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TPT South Africa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Travel </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tryg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emirate NBD </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vistaprint </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valiant Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coop Sweden </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morrisons </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maurices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td></tr></tbody></table> “The deal pipeline continues to be strong, led by traction in client engagement, which is up 3x vs pre-COVID levels,” said Japanese brokerage firm Nomura in its report. The 10 new deal wins show improvement in demand across vertices and lay the path for better translation of deal wins to revenue. It also indicates that the supply-side issues of Q1 are now subsiding. What’s next? According to Edelweiss Research, TCS, being a market leader, is likely to be a key beneficiary of the businesses looking to transform, more cloud adoption, and digital adoption. “We also believe TCS will call out the current pandemic as a key catalyst for the third wave of outsourcing, triggering structural high growth for the industry,” said the report. The Indian IT services giant can capitalise on the momentum of new deals coming its way with better cost control and efficient execution. However, any commentary on wage hikes, new hiring or how the 25/25 model impacts its finances will be crucial as per Nomura. Last quarter, TCS CEO Rajesh Gopinathan indicated that the company is likely to <a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">open up its doors to lateral hiring.</a> The on-boarding of freshers was still in progress, going slower than usual due to the coronavirus pandemic and training centres being shut. <keyword id="456955" type="PERSON" weightage="20" keywordseo="TCS-Q2-earnings">TCS Q2 Earnings</keyword> Preview <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected growth in revenue (CC) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin expansion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Research </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Philip Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">130 bps </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-hcl-tech-expected-to-announce-more-deals-more-money-and-more-savings-in-second-quarter/articleshow/78507656.cms">TCS, Infosys, Wipro and HCL Tech expected to announce more deals in the second quarter</a> <a href="https://www.businessinsider.in/policy/economy/news/mpc-to-meet-tomorrow-as-new-external-members-come-on-board/articleshow/78510248.cms">MPC to meet tomorrow as new external members come on board</a> <a href="https://www.businessinsider.in/india/news/cinema-halls-to-reopen-from-october-15-these-are-the-guidelines-and-sops-to-be-followed-at-all-cinema-halls-/articleshow/78508895.cms">Government issues guidelines for re-opening cinema halls — 50% capacity, one-seat distance, compulsory masks and other measures</a>

TCS expected to post higher revenue and margins led by a streak of deal wins over the last three months

<ul class="summary-list"><li>This is a preview of Digital Banking Ecosystem research report from Business Insider Intelligence.</li><li><a href="https://store.businessinsider.com/products/the-digital-banking-ecosystem?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-digital-banking-ecosystem-2019-11&amp;vertical=banking#!/">Purchase this report.</a></li><li><a href="https://store.businessinsider.com/products/banking-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=top_text&amp;itm_term=bii_subscription_text_link-digital-banking-ecosystem-2019-11">Business Insider Intelligence offers even more fintech coverage with Banking Pro. Subscribe today to receive industry-changing finance news and analysis to your inbox.</a></li></ul>The banking industry is in the grips of an identity crisis. Leaders of the world's largest banks - such as Citi, BBVA, and Goldman Sachs - have begun describing themselves as technology companies with banking licenses.However, this description is still aspirational. Executing the vision will require billions of dollars in investments, the restructuring of teams, a reimagining of the entire banking technology stack, and the adoption of a far more customer-centric business view. The stakes of failing to transform are high: Accenture <a href="https://www.accenture.com/us-en/insights/financial-services/bank-branch-digital-disruption" target="_blank" rel="noopener">projects</a> that 35% of all bank revenues could be at risk from more tech-savvy competitors like fintechs as soon as 2020 for incumbents that fail to up their game.As a result, a wave of digital transformation is now sweeping the banking industry, as incumbents shore up against consumer demand and competitive pressures. Major banks have already announced multibillion-dollar, multiyear digitization projects: By 2021, global banks' IT budgets will surge to $297 billion, up 14% from $261 billion in 2018, according to Celent.Many incumbent banks are opting to decrease their branch budgets and networks and reinvest their resources in digital channels such as mobile instead to cater to current consumer preferences, and are enlisting the help of tech-savvy software vendors to modernize their tech stacks from top to bottom as part of this process.In the Digital Banking Ecosystem report, Business Insider Intelligence explores the incumbent banking landscape as a whole, and the third parties banks are calling on to help their transition to digital. We then take a closer look at the three biggest drivers for incumbent banks' digitization push: digital-native competitors like neobanks and Big Tech companies; changing consumer behaviors and banking channel preferences; and a growing array of cybersecurity threats.Lastly, we examine what incumbents are already doing today to transform themselves into digital-first organizations to compete in a customer-centric, data-driven global economy, and how they are learning to meaningfully measure the progress of their transformations. The companies mentioned in this report include: Acronis, Amazon, Ant Financial, Apple, Ario, Banco Galicia, Bancorp, Bank of America, Bank of England, Barclays US Consumer Bank, BBVA, BNP Paribas, Caixa Geral de Depositos, CaixaBank, Capital One, China Construction Bank, Citigroup, Citizens Bank, Compliance.ai, CSI, Dave, Detroit Fintech Bay, Deutsche Bank, Diasoft, Emirates NBD Bank, Finastra, Finn AI, Finxact, First Direct, FIS, Fiserv, Flagstar Bank, Forcepoint, ForSee, Forward Networks, Geezeo, Gemalto, Goldman Sachs, Google, Grab, Hello Bank, Help Systems, HotJar, HSBC, IBM, ICBC, Infosys, ING, ING Direct, Intesa Sanpaolo, Jack Henry, JPMorgan Chase, Kenna Security, Lloyds Bank, Lyft, Midwest Bank, Mission Bank, Monzo, N26, Nationwide, NatWest, nCino, ObserveIT, OnDeck, Openbank, Osano, Personetics, PNC, RBS, Reciprocity Labs, Saga, Santander, Sberbank, Square, Starling Bank, Strands, Tanium, Temenos, Tencent, Thomson Reuters, Thought Machine, Tink, TSB, Uber, United Income, US Bank, Wells Fargo, Zelle, and Zopa. Here are some of the key takeaways from the report:<ul><li>Incumbent banks are intensifying their digitization efforts in the face of changing consumer demands and growing competitive pressures.<ul><li>The number of US consumers considering switching banks in the next 12 months increased by 86% from a year before, from 6.9 million to 11.9 million, per Resonate, with consumers citing the need for better digital banking services and more personalized products and tools as major motivators.</li><li>Meanwhile, tech giants like Google and Amazon are poised to grab up to 50% of the $1.35 trillion in US financial services revenue from incumbent banks, per McKinsey, leveraging their tech expertise to lure away customers.</li></ul></li><li>Legacy channel usage is steadily dwindling, while digital channel usage is firmly on the rise. This turn to digital is being accelerated by younger, tech-savvy generations like millennials and Gen Zers quickly becoming banks' largest addressable market.<ul><li>Once the most widely used banking channel in the US, branch use will drop at a compound annual growth rate (CAGR) of -2.01% between 2019 and 2024, per Business Insider Intelligence projections.</li><li>Meanwhile, mobile banking, the least-used banking channel in 2008, is expected to grow at a CAGR of 2.83% between 2019 and 2024, the highest among all channels. </li></ul></li><li>To digitally transform, banks need to join forces with partners, enemies, and frenemies alike. Vendors will be key to the modernization of banks' IT, with specialists catering to each layer: 81% of banking executives surveyed by Finextra and the Euro Banking Association cited working with partners as the best strategy for achieving digital transformation goals. Banks' growing IT budgets reflect their changing priorities: By 2021, global banks' IT budgets will surge to $297 billion, up 14% from $261 billion in 2018, according to Celent.</li><li>Banks' digital transformations are already well under way, and incumbents are making massive changes to the way they operate and plan for the future to compete in a digital economy. They're doing this by embracing digital-ready innovation models; adopting new business models like open and direct banking; and reorienting their tech stacks around the digital customer experience.</li></ul>In full, the report:<ul><li>Outlines the incumbent banking landscape and its components, and the structure of the banking tech stack and the vendors supplying each of its layers.</li><li>Explains the biggest drivers behind banks' digital transformations, especially the rise of tech-savvy competitors, shifts in consumer behaviors, and a growing number of cybersecurity threats.</li><li>Highlights the steps banks are already taking to turn themselves into digital-first, data-driven, and customer-centric organizations. </li><li>Evaluates the progress incumbents have made towards digitization, and how deeply they've embedded themselves in the emerging cross-industry digital banking ecosystem.</li></ul>Interested in getting the full report? Here's how to get access:<ol><li>Purchase &amp; download the full report from our research store. &gt;&gt; <a href="https://store.businessinsider.com/products/the-digital-banking-ecosystem?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-digital-banking-ecosystem-2019-11&amp;vertical=banking#!/">Purchase &amp; Download Now</a></li><li>Sign up for Banking Pro, Business Insider Intelligence's expert product suite tailored for today's (and tomorrow's) decision-makers in the financial services industry, delivered to your inbox 6x a week. &gt;&gt; <a href="https://store.businessinsider.com/products/banking-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-digital-banking-ecosystem-2019-11">Get Started</a></li><li>Join thousands of top companies worldwide who trust Business Insider Intelligence for their competitive research needs. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/corporate?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=learn_more_text&amp;itm_term=enterprise_text_link-digital-banking-ecosystem-2019-11">Inquire About Our Enterprise Memberships</a></li><li>Current subscribers can read the report <a href="https://intelligence.businessinsider.com/post/the-digital-banking-ecosystem-these-are-the-key-players-biggest-shifts-and-trends-driving-short-and-long-term-growth-in-one-of-the-worlds-largest-industries-2019-11" target="_blank" rel="noopener">here</a>.</li></ol><a href="https://store.businessinsider.com/products/banking-pro?itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=banking&amp;itm_campaign=banking-2"></a> Read the latest <a href="/banking">banking news</a> and featured articles: - <a href="/banking-industry-trends">Banking Industry Trends</a> - <a href="/future-of-banking-technology">Future of Banking Technology</a> - <a href="/mobile-banking-market-trends">Mobile Banking Market</a> - <a href="/banking-as-a-service-industry">Banking as a Service Explained</a> - <a href="/digital-banking">Digital Banking</a> - <a href="/open-banking-api-trends-explained">Open Banking &amp; Bank APIs</a> - <a href="/alternative-lending-nonbank-industry">Alternative Lending &amp; Nonbanks</a> - <a href="/evolution-of-the-us-neobank-market">US Neobank Market</a>

THE DIGITAL BANKING ECOSYSTEM: These are the key players, biggest shifts, and trends driving short- and long-term growth in one of the world's largest industries

<ul class="summary-list"><li>This is a preview of Digital Banking Ecosystem research report from Business Insider Intelligence.</li><li><a href="https://store.businessinsider.com/products/the-digital-banking-ecosystem?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-digital-banking-ecosystem-2019-11&amp;vertical=banking#!/">Purchase this report.</a></li><li><a href="https://store.businessinsider.com/products/banking-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=top_text&amp;itm_term=bii_subscription_text_link-digital-banking-ecosystem-2019-11">Business Insider Intelligence offers even more fintech coverage with Banking Pro. Subscribe today to receive industry-changing finance news and analysis to your inbox.</a></li></ul>The banking industry is in the grips of an identity crisis. Leaders of the world's largest banks - such as Citi, BBVA, and Goldman Sachs - have begun describing themselves as technology companies with banking licenses.However, this description is still aspirational. Executing the vision will require billions of dollars in investments, the restructuring of teams, a reimagining of the entire banking technology stack, and the adoption of a far more customer-centric business view. The stakes of failing to transform are high: Accenture <a href="https://www.accenture.com/us-en/insights/financial-services/bank-branch-digital-disruption" target="_blank" rel="noopener">projects</a> that 35% of all bank revenues could be at risk from more tech-savvy competitors like fintechs as soon as 2020 for incumbents that fail to up their game.As a result, a wave of digital transformation is now sweeping the banking industry, as incumbents shore up against consumer demand and competitive pressures. Major banks have already announced multibillion-dollar, multiyear digitization projects: By 2021, global banks' IT budgets will surge to $297 billion, up 14% from $261 billion in 2018, according to Celent.Many incumbent banks are opting to decrease their branch budgets and networks and reinvest their resources in digital channels such as mobile instead to cater to current consumer preferences, and are enlisting the help of tech-savvy software vendors to modernize their tech stacks from top to bottom as part of this process.In the Digital Banking Ecosystem report, Business Insider Intelligence explores the incumbent banking landscape as a whole, and the third parties banks are calling on to help their transition to digital. We then take a closer look at the three biggest drivers for incumbent banks' digitization push: digital-native competitors like neobanks and Big Tech companies; changing consumer behaviors and banking channel preferences; and a growing array of cybersecurity threats.Lastly, we examine what incumbents are already doing today to transform themselves into digital-first organizations to compete in a customer-centric, data-driven global economy, and how they are learning to meaningfully measure the progress of their transformations. The companies mentioned in this report include: Acronis, Amazon, Ant Financial, Apple, Ario, Banco Galicia, Bancorp, Bank of America, Bank of England, Barclays US Consumer Bank, BBVA, BNP Paribas, Caixa Geral de Depositos, CaixaBank, Capital One, China Construction Bank, Citigroup, Citizens Bank, Compliance.ai, CSI, Dave, Detroit Fintech Bay, Deutsche Bank, Diasoft, Emirates NBD Bank, Finastra, Finn AI, Finxact, First Direct, FIS, Fiserv, Flagstar Bank, Forcepoint, ForSee, Forward Networks, Geezeo, Gemalto, Goldman Sachs, Google, Grab, Hello Bank, Help Systems, HotJar, HSBC, IBM, ICBC, Infosys, ING, ING Direct, Intesa Sanpaolo, Jack Henry, JPMorgan Chase, Kenna Security, Lloyds Bank, Lyft, Midwest Bank, Mission Bank, Monzo, N26, Nationwide, NatWest, nCino, ObserveIT, OnDeck, Openbank, Osano, Personetics, PNC, RBS, Reciprocity Labs, Saga, Santander, Sberbank, Square, Starling Bank, Strands, Tanium, Temenos, Tencent, Thomson Reuters, Thought Machine, Tink, TSB, Uber, United Income, US Bank, Wells Fargo, Zelle, and Zopa. Here are some of the key takeaways from the report:<ul><li>Incumbent banks are intensifying their digitization efforts in the face of changing consumer demands and growing competitive pressures.<ul><li>The number of US consumers considering switching banks in the next 12 months increased by 86% from a year before, from 6.9 million to 11.9 million, per Resonate, with consumers citing the need for better digital banking services and more personalized products and tools as major motivators.</li><li>Meanwhile, tech giants like Google and Amazon are poised to grab up to 50% of the $1.35 trillion in US financial services revenue from incumbent banks, per McKinsey, leveraging their tech expertise to lure away customers.</li></ul></li><li>Legacy channel usage is steadily dwindling, while digital channel usage is firmly on the rise. This turn to digital is being accelerated by younger, tech-savvy generations like millennials and Gen Zers quickly becoming banks' largest addressable market.<ul><li>Once the most widely used banking channel in the US, branch use will drop at a compound annual growth rate (CAGR) of -2.01% between 2019 and 2024, per Business Insider Intelligence projections.</li><li>Meanwhile, mobile banking, the least-used banking channel in 2008, is expected to grow at a CAGR of 2.83% between 2019 and 2024, the highest among all channels. </li></ul></li><li>To digitally transform, banks need to join forces with partners, enemies, and frenemies alike. Vendors will be key to the modernization of banks' IT, with specialists catering to each layer: 81% of banking executives surveyed by Finextra and the Euro Banking Association cited working with partners as the best strategy for achieving digital transformation goals. Banks' growing IT budgets reflect their changing priorities: By 2021, global banks' IT budgets will surge to $297 billion, up 14% from $261 billion in 2018, according to Celent.</li><li>Banks' digital transformations are already well under way, and incumbents are making massive changes to the way they operate and plan for the future to compete in a digital economy. They're doing this by embracing digital-ready innovation models; adopting new business models like open and direct banking; and reorienting their tech stacks around the digital customer experience.</li></ul>In full, the report:<ul><li>Outlines the incumbent banking landscape and its components, and the structure of the banking tech stack and the vendors supplying each of its layers.</li><li>Explains the biggest drivers behind banks' digital transformations, especially the rise of tech-savvy competitors, shifts in consumer behaviors, and a growing number of cybersecurity threats.</li><li>Highlights the steps banks are already taking to turn themselves into digital-first, data-driven, and customer-centric organizations. </li><li>Evaluates the progress incumbents have made towards digitization, and how deeply they've embedded themselves in the emerging cross-industry digital banking ecosystem.</li></ul>Interested in getting the full report? Here's how to get access:<ol><li>Purchase &amp; download the full report from our research store. &gt;&gt; <a href="https://store.businessinsider.com/products/the-digital-banking-ecosystem?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=full_report_text&amp;itm_term=store_text_link-digital-banking-ecosystem-2019-11&amp;vertical=banking#!/">Purchase &amp; Download Now</a></li><li>Sign up for Banking Pro, Business Insider Intelligence's expert product suite tailored for today's (and tomorrow's) decision-makers in the financial services industry, delivered to your inbox 6x a week. &gt;&gt; <a href="https://store.businessinsider.com/products/banking-pro?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-digital-banking-ecosystem-2019-11">Get Started</a></li><li>Join thousands of top companies worldwide who trust Business Insider Intelligence for their competitive research needs. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/corporate?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=report_teaser&amp;itm_content=learn_more_text&amp;itm_term=enterprise_text_link-digital-banking-ecosystem-2019-11">Inquire About Our Enterprise Memberships</a></li><li>Current subscribers can read the report <a href="https://intelligence.businessinsider.com/post/the-digital-banking-ecosystem-these-are-the-key-players-biggest-shifts-and-trends-driving-short-and-long-term-growth-in-one-of-the-worlds-largest-industries-2019-11" target="_blank" rel="noopener">here</a>.</li></ol><a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a>

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Justin Sullivan/Getty ImagesApple CEO Tim Cook</div></div></div><ul class="summary-list"><li>On Monday at <a href="https://www.businessinsider.com/category/wwdc">WWDC</a>, <a href="https://www.businessinsider.com/category/apple">Apple</a>'s annual developer conference, the company announced SwiftUI, a new tool for building mobile apps.</li><li>SwiftUI is built on Swift, Apple's popular programming language, largely used to create <a href="https://www.businessinsider.com/category/ios">iOS</a> apps, and plugs into its Xcode programming environment.</li><li>SwiftUI helps <a href="https://www.businessinsider.com/category/programmers">programmers</a> quickly and easily design what the app looks like and how users will interact with it.</li><li><a href="https://www.businessinsider.com/category/developers">Developers</a> say they're excited about how SwiftUI allows them to write less code, while being able to see the results of the changes they make in real-time.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Read more on the Business Insider homepage.</a></li></ul>For many programmers, the most exciting announcement from Apple's <a href="https://www.businessinsider.com/apple-wwdc-2019-how-to-watch-keynote-address-2019-6">annual WWDC developer conference</a> wasn't its new <a href="https://www.businessinsider.com/wwdc-2019-preview-apple-iphone-ios-13-apple-watch-mac-2019-5">Apple Watch features</a> or its <a href="https://www.businessinsider.com/apple-display-mac-pro-stand-costs-1000-dollars-2019-6">$1,000 monitor stand</a>. Instead, it was a tool they could use for building iPhone apps.This new tool that Apple announced at WWDC is called SwiftUI. It builds on Swift, Apple's popular programming language that has been used to build some 450,000 apps, by the company's own arithmetic, and plugs into Xcode, the software used to build iOS and iPad apps. SwiftUI includes special features that allow developers to quickly and easily build user interfaces, or what the app looks like and how users interact with it, using Swift. It even supports Apple's new Dark Mode, which darkens the whole interface to make it more visible in low-light settings. In some ways, this is Apple's answer to popular tools like React Native, which was originally created by Facebook, or <a href="https://www.businessinsider.com/google-is-taking-on-microsofts-xamarin-with-flutter-a-new-ui-toolkit-2018-12">Flutter</a>, which is from Google. Both have found lots of success in Silicon Valley and beyond for helping developers create user interfaces. Still, developers all over the world are very excited to see what Apple has in store with SwiftUI. Indeed, of all the announcements at the WWDC keynote on Monday, it was SwiftUI that got the loudest applause. "The first thought is that it's like magic," Martin Lasek, an independent developer, told Business Insider. "They were literally showing how much less code you were writing...This is really promising. I want to start digging into it."<h2>SwiftUI's special features</h2>What's special about SwiftUI is that it uses declarative syntax, which means that developers can just state what they want the app to do, rather than having to type an entire set of instructions. For example, developers can just type what fonts, colors, and even animation effects they want to use for their app, without having to go into the nitty-gritty of describing each aspect in detail. This means that Swift code written with SwiftUI is much simpler and more concise. "The level of detail and polish they wrote into their applications is something that doesn't exist in any competing framework," Orta Therox, an engineer on TypeScript at Microsoft, told Business Insider. "SwiftUI represents a different kind of programming mentality. SwiftUI is definitely the most polished developer experience for all of them so far."In addition, with SwiftUI, as programmers work on their app, they can see the changes they make in real-time. It also works in reverse - developers can drag and drop features like buttons, fonts, and colors into new places, and the code will move itself around to match. Before, developers would have to wait for the code to build before they can see the changes in preview. "This is the moment every developer is waiting for," Hemanth Alluri, an iOS engineer at Infosys, told Business Insider. "Even though Apple provides the best tools and powerful languages for their developers, it lags in auto generation output without building every time and writing a lot of code modules...These are all complexities that can be eliminated using the SwiftUI framework."<h2>How developers plan to use it</h2>Ignacio Segovia, chief <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">enterprise</keyword> architect at Altimetrik, predicts that SwiftUI will expand adoption of Swift. Currently, iOS apps are typically written in either Swift or an older language called Objective-C. However, he says, SwiftUI will be easier for both entry level and veteran programmers to use.Read more: <a href="https://www.businessinsider.com/why-google-square-atlassian-using-kotlin-programming-language-2019-4">Here's why companies like Google, Square, and Atlassian are sprinting to use Kotlin, the fastest-growing programming language according to GitHub</a>Segovia already plans to "aggressively" adopt SwiftUI."Building apps used to be an undertaking of several months," Segovia told Business Insider. "With SwiftUI, I think this will lower the bar even further and make coding more universally available to people. As a developer, I'm just excited to use it. It will make Apple platforms more fun to use."Shannon Potter, senior iOS engineer at WeTransfer, says that even though he does not think he will use SwiftUI in his day-to-day job, he plans to play around with it to see if there's anything new he can build. Before SwiftUI, he said that it was sometimes easy to lose track of where things were happening in the code, while this tool makes it easier to track."It's encouraging that Apple is forward thinking and making a framework that mirrors more sustainable ways for engineers to use their user interfaces," Potter told Business Insider. "I was impressed that they're trying to build something new from the ground up that represents what a lot of engineers are using and a lot of technologies from the web."Even non-iOS engineers were impressed. Sam Debruyn, technical lead at 3factr, typically uses Microsoft's <a href="https://www.businessinsider.com/microsoft-acquires-xamarin-2016-2">Xamarin</a> to build mobile apps, but says that his interest was piqued. "The main thing when you develop an app is the time when you write code and when you see it on the screen," Debruyn told Business Insider. "With Xamarin, it takes about a minute to see what you've written. New frameworks like SwiftUI try to tackle that issue...It's shortening the time between when you code an app and when you see what it's doing. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/ingredients-processed-foods-red-bull-twinkies-doritos-kraft-cheese-2016-10">This stunning visualization breaks down all the ingredients in your favorite processed foods</a></h3> <div> </div> </div>

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