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