Accenture’s Strong Q2 Performance Indicates Sustained Demand Tailwinds: Motilal Oswal
A sign outside Accenture Ltd. offices. (Photographer: Dennis Brack/ Bloomberg)

Accenture’s Strong Q2 Performance Indicates Sustained Demand Tailwinds: Motilal Oswal

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.

Motilal Oswal Report

Accenture reported strong Q2 earnings, increasing its FY21 revenue growth guidance by 250 basis points on better than expected demand environment.

We see its Q2 FY21 delivery and commentary as a positive read-across for our Indian IT Services coverage as it indicated continued robust demand in key industries.

The company’s revenue at $12.1 billion (up 5% YoY in constant currency terms, up 7% YoY, excluding travel reimbursements) was 100bp above its guidance and consensus estimates.

The company reported its highest-ever new deal wins of $16 billion, up 13% YoY (both outsourcing and consulting total contract value was up 10%).

On a last twelve months basis, outsourcing TCV is up 17% YoY, implying strong traction in the business.

Click on the attachment to read the full report:

Motilal Oswal IT-Accenture Company Update.pdf

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