Accenture Q4FY20 earnings: Five key takeaways for the Indian IT companies

Analysts at Nomura note that Accenture's weakness is restricted to stressed verticals such as retail, manufacturing, travel, and energy, which contributed nearly 20 per cent of revenues.

Most information technology (IT) stocks were trading firm on Friday, a day after Accenture, a global behemoth in the consulting and IT services, announced its fourth-quarter results for the fiscal 2020 (Q4FY20). While the company missed estimates for fourth-quarter sales and projected current-quarter revenue below Wall Street expectations, strong traction in the outsourcing business, strong order bookings, and encouraging management commentary were the key positives from the industry's standpoint.

Accenture reported revenues of $10.8 billion, down 2 per cent year-on-year (YoY) and 1 per cent YoY in constant currency terms after including the 2 per cent impact from the decline