Accenture’s Strong Performance A Positive Read-Through For Indian IT: ICICI Securities
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Accenture’s Strong Performance A Positive Read-Through For Indian IT: ICICI Securities

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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:

ICICI Securiteis Accenture Updatet Dec 20.pdf

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