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Despite firm Q1 revenue growth, Accenture Plc left analysts unimpressed as it pegged the next quarter's revenue growth below projections. Does this signal more trouble for Indian IT companies ahead?
Despite firm Q1 revenue growth, Accenture Plc left analysts unimpressed as it pegged the next quarter's revenue growth below projections. Does this signal more trouble for Indian IT companies ahead?
For FY23, Accenture has maintained its 8-11 per cent growth guidance. This is reportedly the first time since FY17 that the company has not upgraded its full-year guidance after the first quarter
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Asha is a qualified chartered accountant (CA), and Parthasarthy is a Financial Services industry veteran
Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector
For the full year, the company reported revenue of $61.6 billion an increase of 22 per cent in the US dollar terms
US firms with large overseas operations such as Microsoft and Salesforce have in recent months flagged the toll from the strongest greenback in two decades
Foreign exchange headwinds have intensified since Accenture's third-quarter results, with the US dollar at a two-decade high against a basket of currencies
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Accenture Q3 results: Strong outlook and robust bookings reflect the secular nature of demand for IT services in the near-term, though medium-term risks persist, said analysts
Accenture follows a September-August financial year. Third quarter represented period from March-May 2022
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Accenture cut the higher end of its annual profit forecast range. It expects fiscal 2022 earnings per share to be in range of $10.61 to $10.70, compared with its previous estimate of $10.61 to $10.81