posted its latest quarterly results on Monday, indicating the world’s largest software firm continues to rebound as a result of the $3.6 billion buyback that was announced in December.
The company posted an annualized profit of $1.6bn for the quarter ending March 31, up 19% from the same quarter a year earlier.
The gain was largely offset by a loss of $3bn from the prior year, which included a $1bn writedown in its cloud computing unit.
Infosy said the company had added more than 5,000 jobs since December 2016.
“While we continue to work to reduce costs, the results show we are on the road to achieving profitability in 2018,” said Mark Mahaney, chief executive officer of Infosyn.
“Our company’s overall performance and our cash flows have improved over the last 12 months, which has allowed us to accelerate our strategy to improve our financial results.”
Infosies shares rose 8.6% in after-hours trading, after closing down nearly 4% on Tuesday.
The stock is up more than 20% since the start of the year.
The American Business Association, a business group, said the latest earnings beat the consensus forecast by analysts and said the quarterly profit growth is “a very strong sign” that the company will have a bright future.