Indian IT Sector: Accenture Q2FY17: Optimistic commentary on BFSI vertical

Indian IT sector: Accenture _ Q2FY17 result take: Optimistic commentary on BFSI vertical, positive for Indian IT companies

For 2Q FY17, Accenture revenues up by 6% , ahead of market expectations of around 5% growth in CC term. On reported basis, revenue rose 4.7% to $8.32 billion, helped by strong demand for its digital, cloud and security-related services (double digit growth), which make up more than 45% of revenue.

However, bookings were down 1% in local currency driven by a decline in Consulting, and the Energy, Chemicals, Communications and Media businesses remained pressured.

Key takeaways for Indian IT: Accenture’s management commentary remain optimistic, as indicates at good trend over next two quarters, important takeaways for Indian IT, BFSI grew 10% in CC term in North America, further management expect BFSI to see further traction in the coming quarters, while Expect Telecom to remain weak and seeing improvement in Health care and Energy vertical.

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