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Employee costs to haunt Indian IT even as biz prospects improve: Analysts

Indian IT Services companies, Goldman Sachs said, have doubled their market share in the last 10 years to 6.2 per cent of the global IT spending in CY22

IT sector
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Puneet Wadhwa New Delhi

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Analysts remain divided on the road ahead for the Indian information technology (IT) companies over the next few years, even as US-based Nvidia Corp, a leader in artificial intelligence (AI) surprised the street with its latest quarterly earnings and an upbeat guidance for the October quarter.

Nivdia's recently quarterly results showed revenue doubled to $13.5 billion, while profit came in at $2.70 a share. Analysts had forecasted sales of nearly $11 billion and profit of $2.07. For the October quarter, it expects sales to hit around $16 billion, as compared to analysts' expectations of $12.5 billion, reports suggest.

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First Published: Aug 24 2023 | 11:13 AM IST

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