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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 …

Revenue

LTIMindtree readies recipe for $10 bn revenue, but near-term woes a spoilsport

LTIMindtree Ltd is bracing for the next leg of growth, but the Street is hardly excited. At its Investors Day 2024 held on Monday, the management outlined three strategic pillars to meet this aspiration: scaling verticals and mining Fortune 500 accounts, leveraging artificial intelligence and doubling or tripling revenues in key verticals. In the past 18 months, it has secured …

US technology services firm EPAM Systems has emerged bigger than LTIMindtree Ltd and grown faster than Tech Mahindra Ltd with a simple hack: doubling its employee strength in India. In this period, Tech Mahindra, India’s fifth-largest information technology services provider by revenue, recorded a growth rate of 0.32%, reaching a revenue of $1.6 billion at the end of July-September 2024 …

Goldman Sachs has initiated coverage on six Indian Information Technology services companies and expects the sector to see growth amid tailwinds from Generative AI and pent-up demand. While our overall sector revenue growth is in line with consensus, we see company specific divergence, and are ahead of consensus on Infosys and TCS,” Goldman Sachs said in a note. TCS is …

IT services firm LTIMindtree Ltd disappointed investors with its June quarter results, which were a mixed bad. “This is the first quarter when BFSI revenue has declined on a sequential basis since the company started reporting its results as a merged entity," pointed out a report from Emkay Global Financial Services Ltd. As a result, LTIMindtree's revenue growth recovery has …

IT stock LTI Mindtree declares ₹40 per share dividend, revenue up 21% YoY in Q4

Shares of LTIMindtree rose over a per cent in early trade on BSE on Thursday ahead of the company's January-March quarter result of the financial year 2022-23. Brokerage firm Axis Securities expects LTIMindtree to report a 23.7 per cent year-on-year and 3.3 per cent quarter-on-quarter rise in the IT firm's revenue driven by the large deal ramp-up. As per the …