Infosys and Wipro ADRs Soar Up to 8% After Accenture Earnings Forecast
· Business · Economic Times, LiveMint
American Depositary Receipts of Infosys and Wipro surged up to 8% in US pre-market trading following a strong annual revenue forecast from Accenture. Accenture projected full-year revenue growth of 3-6%, exceeding Wall Street expectations and easing concerns over slowing global technology spending. The Dublin-based consulting major reported fourth-quarter revenue of $18.68 billion, outperforming analyst estimates of $18.03 billion. Steady demand in consulting, managed services, and artificial intelligence-related work drove positive sentiment across the IT sector. Indian IT stocks also advanced domestically, bucking broader market trends.
Why it matters
Accenture's upbeat outlook signals resilient global tech spending, directly boosting investor confidence in major Indian IT exporters like Infosys and Wipro.
Read the original report — Economic Times
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