Stocks of IT companies are on cloud nine after Accenture’s strong results
4 years ago

Stocks of IT companies are on cloud nine after Accenture’s strong results

Live Mint  

Shares of software services firms Tata Consultancy Services Ltd and Infosys Ltd hit a new 52-week high on Friday after Accenture Plc announced better-than-expected results for its first quarter. Analysts say that large Indian IT firms tend to mirror Accenture’s performance with some lag, and with other channel checks suggesting strong IT demand, the outlook for India-based companies remains strong. Ltd point out: “Accenture’s 1QFY21 results reflect accelerated spends on cloud, security and digital transformation which are key medium-term growth drivers.” “Tier-I Indian IT firms are favourably positioned to leverage these growth opportunities. “The outsourcing order book/bill ratio continues to trend higher than historical levels at 1.2 times for the second quarter in a row and this should also reflect in strong order bookings for Indian techs in our view,” said analysts from JM Financial Institutional Securities Ltd in a 17 December report.

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History of this topic

IT sector swings between hope and despair
2 weeks, 5 days ago

IT sector swings between hope and despair

Live Mint  

Global IT giant Accenture’s Q1FY25 results surprised positively with constant currency revenue growth of 8% year-on-year, beating its 2-6% guidance. Growth was broad-based but led by the healthcare and public services vertical where Accenture has relatively higher exposure than tier-I Indian peers. “Accenture’s improving deal total contract value share indicates its growth, especially in Managed Services, might be coming at …

Accenture posts full-year fiscal 2024 revenue of USD 64.9 billion
3 months, 2 weeks ago

Accenture posts full-year fiscal 2024 revenue of USD 64.9 billion

New Indian Express  

BENGALURU: IT services firm Accenture, which announced a USD 4 billion share buyback, has posted fourth-quarter revenues of USD 16.4 billion, an increase of 3 per cent. Its full-year fiscal 2024 revenues stood at USD 64.9 billion. The company's new bookings for the fourth quarter stood at USD 20.1 billion and USD 81.2 billion for the full year, a 13 …

Accenture results leave IT investors between hope and despair
1 year, 3 months ago

Accenture results leave IT investors between hope and despair

Live Mint  

Accenture’s revenue for the quarter ending August, deal bookings and FY24 revenue growth guidance point to a long recovery path for the Indian information technology sector. Secondly, this also means that large deal ramp ups could take longer, further weighing on the sector’s FY25 revenue growth trajectory—an incremental negative. Accenture’s FY24 revenue growth guidance of 2-5% was modest considering that …

IT stocks fall after Accenture cuts earnings growth guidance
1 year, 6 months ago

IT stocks fall after Accenture cuts earnings growth guidance

Live Mint  

Shares of all major Indian Information Technology services companies declined on Friday after US tech giant Accenture cut its revenue guidance for the fourth quarter, raising concerns over earnings of Indian software companies. Domestic brokerage firm Motilal Oswal expects a negative near-term impact of Accenture’s earnings commentary on Indian tech companies. “The overhang on the small deal extension and execution …

Accenture’s layoffs signal tough times for India’s IT giants
1 year, 9 months ago

Accenture’s layoffs signal tough times for India’s IT giants

Live Mint  

IT consulting giant Accenture shocked the industry by announcing plans to trim its workforce by 19,000 over the next 18 months. Wipro reduced its headcount by a net 435 employees in Q3, FY23 after a low net addition of 605 employees in Q2. HCL Tech added a net 2,945 employees in Q3, taking its total headcount to about 220,000. Most …

Accenture is firing 19000 employees: 5 things the IT company said while announcing layoffs
1 year, 9 months ago

Accenture is firing 19000 employees: 5 things the IT company said while announcing layoffs

India Today  

Accenture, the Dublin-based tech company that specialises in offering software solutions to enterprise customers, is planning to lay off over 19,000 employees globally due to uncertain macroeconomic conditions. Although the layoff impacts 2.5 per cent of the company's global employees, the number is significantly large compared to layoffs at other tech companies, like Google, Twitter, and Microsoft. The filing shows …

Accenture to cut 2.5% of workforce; lay off 19,000 employees
1 year, 9 months ago

Accenture to cut 2.5% of workforce; lay off 19,000 employees

Hindustan Times  

Accenture Plc on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5% of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. Accenture now expects annual revenue growth to be between 8% and 10% compared to the previous projection of 8% to 11% …

IT investors find little comfort in Accenture results
2 years ago

IT investors find little comfort in Accenture results

Live Mint  

Recently, HCL Technologies Ltd had said that it expects FY23 revenue growth to be at the lower end of the guidance of 13.5-14.5% in constant currency terms. Amid looming worries on demand slowdown, investors in Indian information technology services companies’ stocks looking for meaningful clues from Accenture Plc’s Q1FY23 results are in for some disappointment. View Full Image Accenture's Q1FY23 …

Top largecap, midcap, smallcap Indian IT stock picks as suggested by brokerages
2 years, 6 months ago

Top largecap, midcap, smallcap Indian IT stock picks as suggested by brokerages

Live Mint  

Indian IT stocks have recently been under pressure amid the current market selloff. Domestic brokerage and research firm Edelweiss in its latest report on IT said that it prefers HCL Tech, Infosys and Tata Consultancy Services among the large-caps and Coforge, LTI and Mindtree among midcap IT stocks. Analysts at brokerage JM Financial said that Accenture’s results confirm the ‘All’s …

Is all well for Indian IT firms? What Accenture’s results indicate
2 years, 6 months ago

Is all well for Indian IT firms? What Accenture’s results indicate

Live Mint  

US-based IT giant Accenture's earnings are often seen as an indicator of the performance of the Indian IT sector. Accenture’s strong performance and solid commentary supports brokerage Edelweiss' thesis of a robust tech upcycle. Analysts at brokerage JM Financial said that Accenture’s results confirm the ‘All’s well for now’ thesis for Indian techs despite increasing concerns of hit on IT …

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report
3 years, 1 month ago

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report

Hindustan Times  

Indian IT services sector is expected to see a gross employee addition of about 4.5 lakh in the second half of the fiscal ended March 2022, according to a report by market intelligence firm UnearthInsight. With higher attrition in the second half of around 17 to 19 per cent, the industry is expected to have a net employee addition of …

Safe havens TCS, Infosys leave Accenture far behind on valuations
4 years, 2 months ago

Safe havens TCS, Infosys leave Accenture far behind on valuations

Live Mint  

The Nifty IT index has risen 37% this year, outperforming the Nifty 500 index by about 42%. The firm’s revenues are double the size of India’s largest IT services firm, Tata Consultancy Services Ltd. And its share of revenues from digital, cloud and security services are now as high as 70% of revenues, far higher compared to its Indian peers. …

Accenture's Q4 orders, outsourcing biz growth fuel optimism for Indian IT
4 years, 3 months ago

Accenture's Q4 orders, outsourcing biz growth fuel optimism for Indian IT

Business Standard  

Accenture's Q4 orders, outsourcing biz growth fuel optimism for Indian IT The better-than-expected performance in the outsourcing business has indicated the recovery of revenue growth for Indian IT firms too, and may happen sooner than expected Premium According to Motilal Oswal Securities, Accenture’s management has hinted at a robust deal pipeline, which is quite encouraging for Indian IT companies. Sai …

Covid impact on TCS greater than Accenture, but stock defies reality
4 years, 6 months ago

Covid impact on TCS greater than Accenture, but stock defies reality

Live Mint  

Since 25 June, when Accenture Plc reported better-than-expected quarterly results, its stock has risen by 8.5%. Its revenue grew 1.3% year-on-year in local currency terms and its operating profit margin rose by 220 basis points sequentially. TCS’s results reflect the reality of the pandemic,” said an analyst at a domestic institutional brokerage requesting anonymity. Even after weaker-than-expected March quarter results, …

Accenture tops Q2 estimates, raises profit forecast
5 years, 9 months ago

Accenture tops Q2 estimates, raises profit forecast

Live Mint  

Bengaluru: Accenture Plc on Thursday raised its full-year profit forecast after reporting better-than-expected second-quarter earnings, benefiting from its investments in digital and cloud services. Much of Accenture's recent growth has been driven by digital and cloud services, which include everything from managing clients' social media marketing strategies to helping them migrate to the cloud. Accenture raised its full-year earnings per …

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