Infosys’ American Depositary Receipts (ADR) took a sharp 6% nosedive on the NYSE, closing at $21.515 after the tech giant unveiled its Q3FY25 results. The irony? This steep drop came even as Infosys raised its full-year revenue growth guidance for the third time, now projecting a 4.5-5% increase for FY25. On the surface, the numbers look solid. Net profit for the October-December quarter grew by 11.4% year-on-year, reaching ₹6,806 crore, while revenue rose 7.6% to ₹41,764 crore. In constant currency terms, revenue showed a 6.1% year-on-year rise, though it slipped 1.7% sequentially. Large deal bookings also remained robust at $2.5 billion for the quarter, slightly up from $2.4 billion in the previous quarter. Infosys CEO Sahil Parekh highlighted the company’s focus on enterprise AI, particularly generative AI, as a key growth driver. “Broad-based growth across segments and strong large deal wins reflect our differentiated digital offerings and strategic focus,” Parekh remarked. Despite this, the ADR slide suggests investors might be wary of softer sequential growth and declining large deal volumes compared to the same quarter last year ($3.2 billion). While demand from U.S. clients supported growth in all eight business segments, Infosys’ flagship financial services division posted a modest 6.1% revenue rise. The company also added 5,591 employees during the quarter, bringing its workforce to a staggering 3,23,379. Back home, Infosys shares closed at ₹1,926.20 on the BSE, down 1.21% from the previous close. The mixed market response underscores the tension between strong long-term positioning and short-term investor skepticism, particularly on Wall Street. With Infosys doubling down on generative AI and enterprise solutions, the road ahead may still offer significant opportunities—if it can translate those into sustained revenue and margin growth.