HCLTech

HCL Tech reported Q4 FY26 revenue of $3.68B, up 2.4% YoYCurrent 2.4% vs previous available quarter 13.3%. but down 3.3% QoQ, missing expectations due to delayed procurement decisions and discretionary spending cuts by two large US telecom clients. Services revenue grew 4.2% YoYCurrent reported value: 4.2% YoY. No comparable prior figure is available in the source record. while software declined 14% YoY. Full-year revenue grew 3.9%Current reported value: 3.9%. No comparable prior figure is available in the source record. in constant currency, with services up 4.8%. EBITDA margin (ex-restructuring) was 17.7%, down 20bps YoY. Management guided FY27 revenue growth of 1-4% (services 1.5-4.5%) and EBIT margin of 17.5-18.5%, reflecting headwinds from two client-specific reductions (~50bps) and continued soft discretionary spend. AI momentum remains strong with $155M quarterly advanced AI revenue (+6.1% QoQ) and a $100M+ AI factory deal. Key risk: further escalation of tariff volatility or client-specific issues could pressure growth.