Accenture results leave IT investors between hope and despair
1 year, 2 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 delivered 8% growth in FY23. Accenture’s FY24 organic growth guidance coincides with H2FY24/H1FY25, when rebound for Indian IT was anticipated by the street to play out, said an Ambit Capital report dated 29 September.

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History of this topic

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down
2 months ago

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down

Live Mint  

Indian IT companies are seeing a rebound in revenue growth, with four of the five largest companies hiring more people in the first six months of the fiscal year compared to the year-ago period. This positive guidance comes at a time when the companies' order books have shrunk in H1FY25 compared to H1FY24, but the current quarter (Q3) is not …

Accenture unveils $4 billion share buyback, lifts 2025 revenue guidance by 3-6% on AI-led order boom
2 months, 3 weeks ago

Accenture unveils $4 billion share buyback, lifts 2025 revenue guidance by 3-6% on AI-led order boom

Live Mint  

Accenture unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter revenue driven by a high demand from companies looking to adopt generative artificial intelligence technology. Accenture hiked its annual revenue growth forecast to 3-6 per cent for 2025 after improving macroeconomic indicators and the US Federal Reserve's latest supersized interest rate cut. The Dublin-based company reported fourth-quarter revenue of …

Accenture plans to push back bulk of its staff promotions by six months: Report
3 months ago

Accenture plans to push back bulk of its staff promotions by six months: Report

New Indian Express  

The Dublin -based technology giant, Accenture Plc is planning to push back the bulk of its staff promotions by six months. The company will announce most promotions in June, rather than in the usual month of December, Bloomberg reported citing an internal blog post. The blog said the firm is “permanently changing our primary promotion date from December to June, …

Corporate India saw 3.7 pc revenue growth in FY24: ICRA
6 months ago

Corporate India saw 3.7 pc revenue growth in FY24: ICRA

Deccan Chronicle  

Chennai: Corporate India reported 3.7 per cent revenue growth in FY24. The softening of input costs helped 17.4 per cent growth in earnings. This softening of input costs along with operating leverage benefits helped the companies see an expansion in operating profit margin by 92 bps to 17.2 per cent in Q4 FY2024. However, the OPM growth of 17.4 per …

Corporate India Revenues Grow Over 3% In Dec Quarter
9 months, 3 weeks ago

Corporate India Revenues Grow Over 3% In Dec Quarter

Deccan Chronicle  

Chennai: Indian companies reported 3.7 per cent growth in aggregate revenues along with margin expansion in the December quarter. However, this softening of input costs along with operating leverage benefits helped the companies witness an expansion of operating profit margin by 171 bps to 17.2 per cent. Nevertheless, input costs remain elevated over historic levels, and as a result, India …

For IT firms, deal wins paint a grim picture
10 months ago

For IT firms, deal wins paint a grim picture

Live Mint  

The revival hopes for the information technology sector hinge significantly on the rate of deal acquisitions, yet the December quarter witnessed a lukewarm performance in this arena. “Ex-Infosys, last twelve month deal flow growth was 5-18% year-on-year with Tech Mahindra down 41% year-on-year," said a report from Ambit Capital. Subdued deal activity is likely to impact short-term revenue growth across …

Q3 results: Top 4 Indian IT companies balance caution and optimism
11 months, 1 week ago

Q3 results: Top 4 Indian IT companies balance caution and optimism

Business Standard  

The third-quarter earnings of the top four Indian IT companies indicate that the demand environment continues to be challenging amid some cautious optimism for the future. Thierry Delaporte, chief executive officer and managing director, Wipro, said during the earnings: “We are starting to see healthy indicators of growth.” Wipro has forecast a muted sequential revenue growth rate of minus 1.5 …

Accenture forecasts Q2 revenue below estimates on muted IT spending
1 year ago

Accenture forecasts Q2 revenue below estimates on muted IT spending

Live Mint  

IT services provider Accenture forecast second-quarter revenue below Wall Street targets on Tuesday, anticipating cautious spending by clients as macroeconomic uncertainty remains an overhang. Accenture's revenue from the communications, media & technology industry group fell 10% in the first quarter, while sales from North America, the company's biggest market, fell 1%, to $7.56 billion. Tata Consultancy Services, India’s No.1 IT …

Q1 Results Review: Earnings growth continues even as revenue slows
1 year, 4 months ago

Q1 Results Review: Earnings growth continues even as revenue slows

Live Mint  

Q1 Results Review: The corporate earnings for the first quarter of FY24 were strong and largely in-line with the street estimates with domestic cyclical sectors such as companies in BFSI and Automobile sectors driving the earnings growth. Among sectors, IT Services companies reported weak performance during the quarter with flattish median revenue growth QoQ in CC, in an otherwise seasonally …

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%
1 year, 5 months ago

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%

Live Mint  

India’s second-largest information technology company Infosys Ltd announced its April-June quarter results for fiscal 2023-24 on July 20, sharply trimming its revenue guidance to 1-3.5 per cent for FY24 from 4-7 per cent amid an increasingly challenging demand environment. Infosys reported a rise of 11 per cent in net profit to ₹5,945 crore, compared to ₹5,360 crore in the corresponding …

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 earnings: IT investors' fears coming true?
1 year, 6 months ago

Accenture earnings: IT investors' fears coming true?

Live Mint  

Global IT giant Accenture's earnings stirred further uncertainty among already apprehensive Indian IT investors. “Decline in consulting – first in past nine quarters - led by lesser small deals sales, indicate intensifying pressure on discretionary spend," noted analysts at JM Financial Institutional Securities Ltd. Accenture's performance is frequently viewed as a barometer for the Indian IT sector, and the anticipated …

IT sector Q4 review: Mixed numbers, cautious outlook; what’s the road ahead?
1 year, 6 months ago

IT sector Q4 review: Mixed numbers, cautious outlook; what’s the road ahead?

Live Mint  

On expected lines, the January-March quarter numbers of Indian IT companies came on the softer side with signs of stress due to the economic slowdown in the key markets including the US and Europe. Mixed numbers As Mint reported earlier, both Infosys and TCS, which together comprise 11 per cent of the Nifty 50 index weightage, missed analysts' estimates in …

India IT services biz set to sink to three-year lows in March qtr
1 year, 8 months ago

India IT services biz set to sink to three-year lows in March qtr

Live Mint  

NEW DELHI : Homegrown IT services firms are likely to close the last financial year on a sombre note, with analysts predicting three-year lows for the sector on various metrics such as deal bookings and revenue growth. The March quarter performance could also set the tone for FY24, in which experts expect deferred deals for the industry leading to slower …

Accenture’s layoffs signal tough times for India’s IT giants
1 year, 8 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, 8 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% …

This Indian IT stock’s target price raised by Jefferies on strong Q3 beat
1 year, 11 months ago

This Indian IT stock’s target price raised by Jefferies on strong Q3 beat

Live Mint  

Newgen Software Technologies Ltd's Q3 were strong all-round beat as revenue, net profit were ahead of estimates, said global brokerage Jefferies. While US remains subdued, Newgen plans at stepping up on marketing/GSI network to improve growth prospects and remains confident of achieving 20-25%+ revenue growth longer term. Within this, SaaS revenues almost doubled YoY and Support revenues saw a strong …

’Uncertain times ahead..’: Jefferies on Indian IT companies
1 year, 11 months ago

’Uncertain times ahead..’: Jefferies on Indian IT companies

Live Mint  

A sharp slowdown in net hiring, muted growth outlook in 4Q and a potentially slower conversion of bookings to revenues points to a sharp growth moderation for Indian IT firms, highlighted Jefferies in a note on Indian IT firms who sees ‘uncertain times ahead’ for the sector. “After the Q3 results so far, the brokerage house expects aggregate revenue for …

Amid slowdown & rising caution, will IT firms deliver another weak quarter?
1 year, 11 months ago

Amid slowdown & rising caution, will IT firms deliver another weak quarter?

Live Mint  

Indian IT stocks underperformed in 2022 amid warnings of a potential slowdown in business on global recession fears and earnings downgrades. The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing growth momentum led by uncertainties in the US and UK. The brokerage expects large caps to outperform …

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 …

Contrasting Q2 stories of two tech giants of India
2 years, 2 months ago

Contrasting Q2 stories of two tech giants of India

Live Mint  

Information technology services provider Wipro Ltd’s stock closed 7% lower on Thursday. View Full Image Fall behind Small Indian cinemas take on big Hollywood studios Premium trumps regular in demand for consumer durables How to transfer shares from a demat account to another “Wipro’s turnaround story is faltering," said analysts at Ambit Capital Pvt. Third, “Overall Ebit margin has fallen …

Top largecap, midcap, smallcap Indian IT stock picks as suggested by brokerages
2 years, 5 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, 5 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 …

JPMorgan downgrades Indian IT sector but bullish on these 4 IT stocks
2 years, 6 months ago

JPMorgan downgrades Indian IT sector but bullish on these 4 IT stocks

Live Mint  

Since analysts at JPMorgan downgraded its Indian IT sector stance to underweight on 18 May, 2022, India IT performance has been volatile. Even as the global brokerage has remained underweight on the IT sector, it is overweight on only four Indian IT stocks which are Infosys, Mphasis, Tech Mahindra, Persistent Systems. Lastly, our analysis of management commentary this earnings season …

Indian IT Sector To Grow 15.5% To $227 Bn In FY22, Fastest In A Decade: Nasscom
2 years, 10 months ago

Indian IT Sector To Grow 15.5% To $227 Bn In FY22, Fastest In A Decade: Nasscom

ABP News  

Mumbai: India's IT sector is set to grow at 15.5 per cent – the fastest in over a decade – to $227 billion in FY22, as the pandemic pushes up demand for digitisation at companies across the world, industry grouping Nasscom said on Tuesday. From a revenue pie perspective, exports are set to grow 17.2 per cent to $178 billion …

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 …

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound
3 years, 10 months ago

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound

News 18  

With TCS piping Accenture to become the most valuable IT company in the world, India’s IT sector has successfully negated the naysayers. Now, according to according to professional recruitment services firm Michael Page India’s ‘Talent Trends 2021 Report’, 53 per cent of companies say they are planning to increase their headcounts in 2021. According to the report, India projects an …

ICICI Sec sees double-digit revenue growth in top IT companies in FY22, FY23
3 years, 11 months ago

ICICI Sec sees double-digit revenue growth in top IT companies in FY22, FY23

Live Mint  

New age technologies like cybersecurity, app development and Cloud are witnessing robust growth. Further, considering TCS’ digital prowess and ability to offer end to end solution makes it a key beneficiary of robust growth in digital technologies leading to double-digit revenue growth over a sustainable period. "This, coupled with industry leading growth & solutions, better capital allocation, stable management and …

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. …

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. …

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings
4 years, 2 months ago

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings

News 18  

The Indian IT services sector is expected to return to high single-digit revenue growth in 2021-2022 galvanised by higher demand for digital transformation after a flattish 2020, according to Fitch Ratings. In a new report titled ‘Spotlight: Indian IT Services Sector’, Fitch said the impact of the coronavirus pandemic is seen to be only moderate and short term, as customers …

Accenture's Q4 orders, outsourcing biz growth fuel optimism for Indian IT
4 years, 2 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 …

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