Accenture’s Strong Performance A Positive Read-Through For Indian IT: ICICI Securities
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Accenture’s strong performance in outsourcing (up 8% YoY, constant currency) is a positive read-through for Indian IT.
This is a decent lead indicator of a residual ‘comeback’ by Indian IT in the impending earnings season.
New booking strength (up 25% YoY) is encouraging. However, even on the upgraded revenue growth guidance (up 3-5% YoY, organic, constant currency, adjusted for reimbursements), the implied compound quarterly growth rate over next three quarters (down 2.0% to down 0.8%) is low.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.