Software & Services
Software & Services
SECTOR | 27 Sep 2019
Prabhudas Lilladhar
Accenture's commentary indicated a strong demand environment & pipeline, but it's revenue & guidance were slight below consensus expectations. The company has assumed global IT spending outlook of 34%, similar to the previous year. ACN reported Q4FY19 revenue towards the upper end of its guided range & marginally below consensus. CC revenue growth was 7.2% YoY vs guidance range of 5.0-8.0% YoY. Revenue growth was broad-based with strong growth in CMT, Resources and Products. North America & growth markets posted a strong growth of 8% & 12% YoY, but Europe was tad weak at 4% YoY. European banking clients contracted...
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