Accenture’s Q4 FY13 results: mixed read-across for European IT Services companies

News published on September Friday 27, 2013
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Yesterday evening Accenture reported Q4 FY13 revenues slightly above company guidance and consensus ests., while FY14 revenue growth guidance is in line. However, we believe this publication will generate a mixed short-term catalyst for Capgemini and other IT Services stocks as Accenture’s next quarter will be relatively weak for company-specific reasons. Interestingly, the call reassured us of the fact the weakness of ERP sales (SAP, Oracle) is essentially due to the economic environment.

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