MetLife Go-Live Drags Revenue; Long Term Op-Lev Potential Majesco Limited (MJCO) reported a poor 1QFY20 performance on revenue, which grew 1.2% QoQ in USD terms to US$37.2mn. In INR terms, MJCO's revenue declined by 1% QoQ to Rs2.59bn. YoY USD revenue growth slipped below 10% (9.8%), the lowest since 3QFY18. Revenue was 1.5% below our estimate, with Professional Services continuing to see revenue decline (-4.7% QoQ, 6th successive quarter of decline). YoY Professional Services revenue dipped ~20% (USD), 10th successive quarter of decline. On the other hand, owing to the IBM MetLife deal going live, Cloud implementation revenue (-18.9% QoQ) came off steeply, while Cloud subscription revenue...