Infosys shares tumble amid U.S. labor department investigations and PERM suspension
On October 23, 2026 Infosys Limited saw its stock plunge after the U.S. Labor Department announced criminal investigations into major IT outsourcing firms and suspended Infosys from the PERM program, part of a wider H‑1B visa crackdown. The drop was reported as 7.38% in one source and 6.22% in another. The company posted annual revenue of $19.28 billion, quarterly revenue of about $5.0 billion, a pretax margin near 21%, and held more than $2.3 billion in cash.
Why it matters
The company warned that loss of PERM access could raise wage and compliance costs, potentially squeezing its roughly 21% pretax margin. Analysts note that higher labor costs may pressure margins, adding downside risk for investors.
Key facts
- 1Infosys shares fell 7.38% in New York trading on October 23, 2026. timothysykes.com
- 2Infosys shares fell 6.22% in New York trading on October 23, 2026. timothysykes.com
- 3Annual revenue was $19.28 billion. timothysykes.com
- 4Quarterly revenue was about $5.0 billion. stockstotrade.com
- 5Pretax margin was near 21%. timothysykes.com
- 6Cash on hand exceeded $2.3 billion. timothysykes.com
Open questions
- Conflicting reported percentage drop: 7.38% vs 6.22%.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.