TCS, Infosys, Wipro and other IT stocks in focus after Accenture's Q1 revenue beat and upgraded guidance
IT stocks like TCS, Infosys, and HCL Tech are likely to be in the spotlight on Friday following Accenture's better-than-expected Q1 earnings and upgraded revenue guidance.
Accenture’s first-quarter revenue of $17.7 billion surpassed analyst estimates of $17.12 billion, driven by strong demand for its AI-powered solutions that help businesses optimize operations.
The company reported new bookings of $18.7 billion, slightly higher than $18.4 billion in the same quarter last year. Annual revenue growth guidance was also raised to 4%-7%, exceeding earlier projections of 3%-6%.
Following these results, Infosys’s ADR surged 3.58% to $23.46 on Thursday, while Wipro’s ADR climbed nearly 2.4% to $2.7171. American Depositary Receipts (ADRs) represent equity shares of foreign companies and allow American investors to trade them on U.S. exchanges.
Accenture highlighted its focus on leveraging Generative AI to streamline operations across industries, from predictive manufacturing maintenance to automating advertising workflows. Businesses continue to invest heavily in scaling AI projects and digitizing core processes to improve efficiency and reduce costs, benefiting IT service providers like Accenture.
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