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IT stocks shrug concerns over Accenture's weak demand outlook, gain 1-2%

Accenture s growth guidance for the February quarter is below the consensus estimate and also hints at continued cost optimisation in IT spending, which is likely to keep demand muted. ....

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accenture guidance: IT stocks rally looks pre-mature after Accenture's underwhelming guidance. Should you sell?

Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends. ....

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IT companies: What does muted Accenture guidance mean for Indian IT companies? Apurva Prasad explains

The decline in Accenture s consulting business is a significant factor in their first guidance, and the negative impact is felt in verticals such as communications. However, the managed services segment remains stable, and Indian IT companies are expected to benefit from increased market share due to strong bookings. The US economy, which historically influences Accenture s performance, is expected to recover, indicating potential growth for the IT sector. ....

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infosys adr: Infosys, Wipro ADRs slump on NYSE as Accenture offers bleak growth outlook

Accenture, which released its earnings for the three months ended August, guided a meagre 2-5% growth in annual revenue in the backdrop of a subdued business environment for IT services. ....

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