Why IT services firms don’t offer full-year guidance but set lofty revenue goals
Information technology services companies including LTIMindtree Ltd, Coforge Ltd, Sonata Software Ltd, and Happiest Minds Technologies Ltd do not traditionally provide full-year revenue guidance, but that has not stopped them from setting aspirational revenue goals. India’s sixth largest information technology services provider ended March 2024 with $4.3 billion in yearly revenue, up 4.4% from the previous fiscal. “If the company’s management has a good track record, not just in terms of delivering good financial performances, but also in terms of corporate governance, investors take these aspirational goals seriously." LTIMindtree and L&T Technology Services reported a combined revenue of $1.33 billion for the July-September 2024 period respectively, implying a revenue run rate of about $7.98 billion by the end of March 2026.
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