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Accenture Q4FY2020 Result - Angel Broking

Posted On: 2020-09-25 02:26:07


Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Accenture reported its Q4FY2020 numbers on the 24th of September which came in a tad below street estimates. Revenues for the quarter came in at USD 10.83bn down by 2% YoY against expectations of 10.9bn but was at the midpoint of the company's guidance of USD 10.6-11.0 bn. Fourth-quarter GAAP EPS stood at USD 1.99 representing a 14% increase from Q4FY2019, including USD 0.29 of gains on an investment. Excluding the gains, EPS for the quarter stood at USD 1.70, a 2% decline from fiscal 2019 and slightly below street estimates of USD 1.73. Consulting revenues for the quarter stood at USD 5.68bn, a decrease of 8% YoY while outsourcing revenues increased by 6% YoY to USD 5.15bn. New bookings for the fourth quarter were strong at USD 14.0bn, an increase of 8% YoY and were led by outsourcing bookings at USD 7.5bn while consulting new bookings stood at USD 6.5bn. For fiscal 2021, the company expects revenue growth to be in the range of 2% to 5% in local currency. Growth is expected to be muted in the first half which we believe will be a result of the consulting business remaining under pressure due to the Covid-19 pandemic. However we expect the outsourcing business will continue doing well due to faster adoption of digital solutions. The Accenture Q4 numbers reinforces our positive stance on the IT sector given increased traction in outsourcing driven by greater adoption of digital technologies. In the large cap IT space HCL is our top pick while Persistent Systems and Zensar Technologies are our top picks in the mid & small cap IT space."


Source: Equity Bulls

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