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Infosys, Wipro ADRs Rise After Accenture Earnings Beat Estimates
Infosys and Wipro are technology companies whose shares also trade in the United States.
Their US-listed shares rose sharply on October 1.
Infosys rose 8%, while Wipro rose 10%.
The rise came after Accenture reported better results than investors expected.
Accenture earned $18.7 billion in revenue during its latest quarter.
Its new business bookings were also higher than analysts had predicted.
Accenture gave a positive forecast for fiscal 2027.
Investors took this as a possible sign that technology companies may perform better.
Indian IT companies are expected to begin reporting their domestic results the following week.
Infosys ADRs rose 8% to $11.60, while Wipro ADRs gained 10% to $1.82 in pre-market trading on October 1.
The gains followed Accenture’s fiscal fourth-quarter revenue and bookings beating Wall Street estimates.
Accenture reported quarterly revenue of $18.7 billion, up 6% in US dollars and 7% in local currency.
Accenture forecast fiscal 2027 local-currency revenue growth of 3% to 6% and diluted EPS of $14.39 to $14.81.
The ADR gains may signal improving sentiment toward Indian IT companies ahead of their domestic earnings season.
- Who
- Infosys, Wipro, and Accenture, with investors responding to Accenture’s results.
- What
- Infosys and Wipro American Depositary Receipts rose after Accenture exceeded quarterly revenue and bookings estimates and issued a positive fiscal 2027 outlook.
- Where
- Infosys and Wipro ADRs traded on the New York Stock Exchange; Accenture is headquartered in Dublin.
- When
- October 1, during pre-market trading; Accenture reported its fiscal fourth-quarter results that day.
- Why
- Accenture’s stronger-than-expected results and outlook improved sentiment toward the technology-services sector.
Key facts
- Infosys ADR move
- Up 8% to $11.60 in pre-market trading
- Wipro ADR move
- Up 10% to $1.82 in pre-market trading
- Accenture quarterly revenue
- $18.7 billion, up 6% in US dollars
- Analyst revenue estimate
- $18.04 billion
- Accenture quarterly bookings
- $22.2 billion, versus approximately $20 billion expected
- Fiscal 2027 revenue outlook
- 3% to 6% growth in local currency
- Fiscal 2027 diluted EPS outlook
- $14.39 to $14.81
Quotes
Julie Sweet
Accenture Chair and Chief Executive Officer
“We exceeded our fourth-quarter revenue guidance range and capped off another year of broad-based growth across our business, grew adjusted EPS 8%, returned a record $11.5 billion to shareholders and reached a new high of 141 quarterly client bookings of $100 million or more.”
livemint.com
Sources
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