#Accenture just announced Results... Quick Points
Cuts top end of growth guidance from 11% to 10%
Earlier it was 8-11% YY cc revenue growth, now it is 8-10%.
Guidance for Q3 is $16.1-$16.7bn revenues, +3-7% y-y in cc.
Cuts top end of growth guidance from 11% to 10%
Earlier it was 8-11% YY cc revenue growth, now it is 8-10%.
Guidance for Q3 is $16.1-$16.7bn revenues, +3-7% y-y in cc.
Q2 revenues at $15.8bn. In cc terms it is 9% YY growth ( 6-10% in guidance) & in $ terms it is 5% y-y growth.
Ebit margin for Q2 was 12.3% down 140bps YY
Business optimisation cost of $244mn or around 150bps of revenues booked in Q2
=> Adjusted margin at 13.8% , up 10 bps y-y
Ebit margin for Q2 was 12.3% down 140bps YY
Business optimisation cost of $244mn or around 150bps of revenues booked in Q2
=> Adjusted margin at 13.8% , up 10 bps y-y
Cuts margin guidance sharply from 15.3-15.5% for fy23 earlier to 14.1-14.3% now. * This includes $800mn business optimisation costs. Excluding this the band is unchanged at 15.3-15.5%.
Managed services (India peers) has growth of 16% YY in cc
while consulting lagged at 4% y-y growth in cc
vs 9% YY growth at the company level.
North America lagged growth at 5% y-y in cc vs eu at 12% and growth markets at 14%.
while consulting lagged at 4% y-y growth in cc
vs 9% YY growth at the company level.
North America lagged growth at 5% y-y in cc vs eu at 12% and growth markets at 14%.
In verticals, CMT was flat YY in cc (only vertical with no growth). FS was up 10% y-y and strongest growth was in resources at 16% y-y in cc.
Order bookings at $22.09bn. up 13% YY
Managed services @ $11.4bn up 31% y-y.
Consulting soft at 2% y-y decline.
Order bookings at $22.09bn. up 13% YY
Managed services @ $11.4bn up 31% y-y.
Consulting soft at 2% y-y decline.
Overall a mixed Bag for the Indian IT Services.
This is the BIG NEGATIVE... Will also be cutting about 2.5% of workforce, or 19,000 jobs
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