Infosys Technologies

Infosys (INFY 47.76 -1.72) reported second quarter earnings overnight that topped Wall Street estimates. The company also issued upside earnings guidance for its third quarter and fiscal year 2010.

The company reported earnings of $0.56 per ADS for the quarter, which was $0.06 better than the First Call consensus of $0.50. Revenue fell 5.1% year-over-year to $1.15 billion vs. the $1.12 billion consensus.

For the third quarter, the company issued earnings guidance of $0.50 per ADS, slightly above the consensus estimate of $0.49. On the top line, the company issued revenue guidance of $1.16 billion to $1.17 billion, which compares to consensus of $1.13 billion.

Looking ahead to fiscal year 2010, the company provided earnings guidance of $2.09 to $2.10 per ADS, vs. consensus of $2.04. Also, the company provided revenue guidance of $4.6 billion to $4.62 billion vs. the $4.53 billion consensus.