NASDAQ-LISTED IT services major Accenture has raised its annual revenue growth forecast for fiscal 2025 to 4-7% from the earlier projection of 3-6%. The revision is attributed to a reduced negative impact from foreign exchange fluctuations, now expected to be approximately 0.5%, compared with the 1.5% projected earlier.
Accenture's performance and outlook are of particular significance for India, where over 40% of the company's global workforce of nearly 800,000 are based.
The company's results often serve as a bellwether for the Indian IT sector, which looks to Accenture's trends as an indicator of global demand. The American depository receipts (ADRs) of Wipro and Infosys were trading up 2.3% and 3%, respectively, in early trade on the New York Stock Exchange, after the announcement.
This story is from the December 20, 2024 edition of Financial Express Mumbai.
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This story is from the December 20, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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