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