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    Home » IT Earnings: Third Quarter Preview: IT Earnings Look Soft, But Street Focuses on On-Demand Views
    Earnings

    IT Earnings: Third Quarter Preview: IT Earnings Look Soft, But Street Focuses on On-Demand Views

    paydayloansallonline_110na0By paydayloansallonline_110na0January 5, 2023No Comments3 Mins Read
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    Indian information technology companies are likely to experience soft earnings in the December quarter due to seasonal factors due to furloughs and year-end holidays.

    This expected earnings softening is also heavily priced into company stocks.

    So the street’s eyes will be more glued to on-demand commentary and potential tweaks to growth guidance provided by software majors than to quarterly results.

    Most economists factor recession in the US and Europe into their 2023 growth projections.

    Industry leaders suggested that the problem is gradually becoming visible

    when the company last month adjusted its revenue growth targets for the current fiscal year.

    The company said revenue growth in 2022-2023 (April-March) will be at the lower end of its guide range of 13.5% to 14.5%.this came after

    raised its 2023 growth outlook to 13.5-14.5% from 12-14% after the September quarter results.

    Last month, US tech giant Accenture Plc also signaled a slowdown in discretionary spending and did not raise its FY23 earnings guidance. The worsening macroeconomic conditions in the US and Europe, two major markets for tech companies, have not had a major impact on deal pipelines last quarter, but how are investors shaping up for next quarter? I would like to see how it will be done.

    “Although we believe the near-term earnings growth outlook for the sector (FY23F) remains strong, there is significant uncertainty about the 24F growth outlook. There are risks,” Nomura Financial Advisory & Securities said in a report.

    intermediary

    The securities expects its covered companies to report cumulative 1.9% consecutive growth in last quarter earnings and a year-on-year increase of 9.1% in constant currency terms.

    Operating profit and net profit growth rates are pegged at 5.9% and 7.2% sequentially, respectively. This will be partly helped by the depreciation of the rupee against the dollar, but the positive impact will be offset by softening earnings growth and continued supply-side pressure, the brokerage said.

    In the mid-cap space, securities firm Nomura

    3.6%, the weakest from 0.4% on a constant currency basis.

    What Brokerage Emkay Global Financial Services Expects

    and HCL Tech maintain FY23 earnings growth guidance. It is expected to lead to continuous revenue growth of 1-3% on a constant currency basis from January to March.

    Infosys derived constant currency year-over-year revenue growth of 15-16% and profit margins in the range of 21-22%.

    (Disclaimer: Professional recommendations, suggestions, views and opinions are their own and do not represent the views of The Economic Times)



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