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Accenture reported strong Q2 earnings, increasing its FY21 revenue growth guidance by 250 basis points on better than expected demand environment.
We see its Q2 FY21 delivery and commentary as a positive read-across for our Indian IT Services coverage as it indicated continued robust demand in key industries.
The company’s revenue at $12.1 billion (up 5% YoY in constant currency terms, up 7% YoY, excluding travel reimbursements) was 100bp above its guidance and consensus estimates.
The company reported its highest-ever new deal wins of $16 billion, up 13% YoY (both outsourcing and consulting total contract value was up 10%).
On a last twelve months basis, outsourcing TCV is up 17% YoY, implying strong traction in the business.
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