Accenture's retained FY23 guidance hints slowdown for IT firms: Analysts

For FY23, Accenture has maintained its 8-11 per cent growth guidance. This is reportedly the first time since FY17 that the company has not upgraded its full-year guidance after the first quarter

Despite a revenue beat in the November quarter (Q1FY23), Accenture Plc’s results have nudged analysts to reaffirm their cautious stance on the Indian IT companies as they foresee moderation in revenue growth going ahead.

Accenture’s revenue in the reporting quarter grew 15 per cent year-on-year (YoY) in constant currency (CC) terms to $15.7 billion, higher than analysts' average estimate of $15.58 billion. This was also above the company’s upper-end guidance of 10-14 per cent YoY CC growth.

But the company has pegged the next quarter's (Q2FY23) revenue between $15.20 billion to $15.75 billion. The mid-point of the guidance is below