Accenture’s first-quarter guidance of $15.20 billion - $15.75 billion, much below the street expectations, does not bode well for the Indian IT services industry.
Accenture, which announced its quarter fourth number and full-year performance, saw its numbers getting impacted by currency volatility. Revenue for the quarter ended August 31, 2022 came in at $15.4 billion. The foreign exchange impact for the quarter was approximately negative 7.5 per cent, compared with the assumption of a negative 8 per cent impact provided in the company’s third-quarter earnings release.
For the full year the company reported revenue of $61.6 billion-- an increase of 22 per cent in US dollar terms.