The strong demand for large-scale projects in cloud mobility, artificial intelligence-driven digital transformation and data security has helped companies like Accenture, adding that US IT companies have secured several large-scale projects and are partnering with banks, telecommunications and sports companies.
Accenture’s results show a broader trend in the sector and are seen as a precursor to what is ahead for the domestic IT sector. The domestic revenue season begins in April with the announcement of TATA Consultant Services (TCS).
The company currently expects annual revenue to increase between 5% and 7% compared to previous forecasts of 4% to 7%. Analysts were hoping for a revenue growth rate of 5.7%, according to data compiled by LSEG.
Also Read: Accenture Increases Year-Early Revenue Forecast for AI Services Demand
ADRs are tradable securities issued by US banks and represent the stocks of foreign companies. US investors use US dollars to allow foreign stocks to be bought and sold on US exchanges. The Dow 30 was trading at 42,167.90, earning 203.28 points or 0.48%, while the S&P 500 was 25.06 points or 0.44% higher at 5,700.35. The NASDAQ composite hovered at nearly 17,850 levels, jumping 106.88 points or 0.60%. Today, the NIFTY IT index finished at 36,676.65, up 1.25%, one of the top performance indexes, and was a slight rise.
The technology company reported a 9% year-on-year growth in Q3FY25 revenue, Motilal Oswal Financial Services said in a review note. IT services companies present complex images in the seasonally weak Q3FY25 quarter, with median revenue growth of 1.8% QOQ CC at 3QFY25 and 2%, 1.2% and 0.7% for 2QFY25, 1QFY25 and 4QFY24, respectively.
(Disclaimer: recommendations, suggestions, opinions and opinions given by experts are unique. These do not represent views of the economic era))
