Accenture beats revenue guidance in Q2
Posts a strong revenue growth of 28% y-o-y on constant currency basis as compared to a guidance of 22-26% Total deal bookings at $19.6 bn; However, net hiring reduced to 24,000 employees in Q2 from 50,000 in Q1
Bengaluru: Amid an uncertain global environment owing to the Russia-Ukraine conflict, global IT major Accenture's second quarter results raises prospects for Indian IT industry for the next financial year.
During the second quarter of ongoing, Accenture posted a revenue growth of 28 per cent year on year on constant currency basis as compared to a guidance of 22-26 per cent. Total deal bookings during this period for Accenture stood at $19.6 bn.
According to brokerage firms, the commentary on the revenue guidance seemed to be the most positive for the Indian IT industry. The company provided a revenue guidance of 24-26 per cent for FY22 from 19-22 per cent projected earlier. Accenture follows September-August financial year cycle.
"Accenture's Q2FY22 performance and guidance suggest a very strong demand environment over the next few quarters. It also provides some comfort with respect to concerns over growth in client IT budgets amidst worsening macro," said equity research firm, Jefferies in a report.
However, most brokerage firms predict that operating margins of domestic IT firms are expected to be under pressure in the coming quarters.
Against the earlier projection of a 10-30 basis points improvement, Accenture has now given a guidance of 10 basis points improvement in FY22.