The Dublin-headquartered company reported revenue of $18.7 billion for the quarter, up 5% year-on-year in constant currency terms, beating street estimates. Analysts from brokerages like Nuvama Institutional Equities, ICICI Securities, Nomura and Motilal Oswal said the numbers point to a steady but capped demand environment for Indian IT services in the near term, with financial services and AI-led work remaining the key growth levers.