IT sector clients continue to remain cautious about spending decisions
The New Indian Express|March 23, 2024
AMID the uncertain economic environment, Accenture has cut its fiscal 2024 revenue forecast and this indicates that clients remain cautious about spending decisions.
UMA KANNAN
IT sector clients continue to remain cautious about spending decisions

Accenture, a key peer of Indian IT services companies, reported revenues for the second quarter of FY24 at $15.8 billion. "The company gave weak 3Q revenue growth guidance of (1%) -3% YoY CC and lowered corresponding FY24 guidance to 1.0%-3.0% (vs. 2.0%-5.0% last quarter). Assuming 3Q growth near the top end, this implies a modest exit to FY24 of 6.0% YoY CC growth for Accenture despite a low base and inorganic support," said Motilal Oswal Financial Services in its report.

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