Accenture Reports Strong Numbers in Q1; Infosys, TCS, Wipro In Focus

Shares of IT stocks including Infosys, TCS, Wipro, LTIMindtree, HCL Technologies, and Tech Mahindra will remain on radar in today’s trading session as Dublin-based IT company Accenture reported strong numbers in Q1.

Accenture surpassed Wall Street’s estimations by reporting a revenue of $17.7 billion against the estimated $17.12 billion in Q1. It surged by 8% year-on-year (YoY) and was way above the guided range of 2-6% year-on-year growth in constant currency terms, said Jefferies India.

The surge in revenue can be attributed to growing demand for AI-powered tools. In an earnings call, the company said that it is using generative AI across various industries in optimising operations from predictive maintenance in manufacturing to automating workflow in advertising operations.

Notably, new bookings for GenAI surged worth $1.2 billion while registering a revenue of $500 million.

Shares of Accenture Plc ended with gains of 7.03% at $372.16.