lowered its revenue guidance for the year ended August 2024 due to a slowdown in deals as macro uncertainties impacted tech spending in the near term.
The Dublin-headquartered tech firm narrowed its full-year revenue guidance to 1.5-2.5% from 1-3% predicted in the last quarter due to a slower ramp-up in deals.
Growth in deal wins were mainly due cost takeout amid a weakness in discretionary demand with with clients preferring large transformational deal.
The management said that while the industry's long-term technology spending trends remain intact, client cautioness due to macro uncertainties is weighing on tech spending in the near-term.
The weakness in the financial services and communication segment is also negative for the Indian IT companies as for most of them, a larger share of revenue comes from the financial services space.
Accenture Plc. lowered its revenue guidance for the year ended August 2024 due to a slowdown in deals as macro uncertainties impacted tech spending in the near term. The Dublin-headquartered tech firm narrowed its full-year revenue guidance to 1.5-2.5% from 1-3% predicted in the last quarter due to a slower ramp-up in deals. Accenture follows the September–August fiscal.
Growth in deal wins were mainly due cost takeout amid a weakness in discretionary demand with with clients preferring large transformational deal. The management said that while the industry's long-term technology spending trends remain intact, client cautioness due to macro uncertainties is weighing on tech spending in the near-term.
The weakness in the financial services and communication segment is also negative for the Indian IT companies as for most of them, a larger share of revenue comes from the financial services space.
