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ICICI Securities Report
Accenture Plc.'s overall / outsourcing revenue growth of 1.2% / 1.8% QoQ (U.S. dollar) was in line with guidance / consensus estimates.
Healthcare vertical, which has been a key growth driver over previous five quarters (up 5.3% compound quarterly growth rate), witnessed revenue decline for the first time since the Covid-19 onset.
This was likely driven by moderation in Covid-19 led spend in areas like contact tracing etc.
Over last three years, inorganic contribution in revenue growth guidance was limited to 1.5%-2%.
For FY22, the same is higher at 5%, translating into organic growth guidance of 7%-10% (constant currency).
Further, management indicated that recovery in consulting segment will be a bigger (overall) growth driver (‘strong double digits') for next fiscal.
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