Latest news with #AccenturePlc
Mint
6 days ago
- Business
- Mint
From studying in New Zealand to settling down there—an Indian student's journey
Siddharth Thyagaraj, an automation specialist with a company in New Zealand, is now a permanent resident of that country. Thyagaraj went to New Zealand in 2020 for a Master's degree in information technology project management. After he completed the programme, in about nine months, he applied for New Zealand's post-study work visa, which is given for a period of three years after obtaining a graduate or postgraduate degree from a New Zealand university. From student to permanent resident Thyagaraj was previously employed with Accenture Plc. in India, which helped him land a job in New Zealand shortly after graduation. This allowed him to transition from his post-study work visa to a residency visa that came with employment in the country. The residency visa category expired after 2022 (its closest equivalent currently is the skilled migrant category visa). After two years on the residency visa, Thyagaraj applied for and got a permanent residency visa (similar to the US's green card). 'Life in New Zealand is quiet, comfortable, and organised. The flip side for Indian students is the very small job market here," he said. 'You can get a job in a few sectors like logistics, IT and farming, but it's a very small market. For instance, the company I used to work for in India has a New Zealand office with just one-tenth the staff. You may not see fast career growth from a small market like this one," he added. Cost of studying in New Zealand Thyagaraj, who secured a ₹3 lakh scholarship, paid about 40,000 New Zealand dollars in tuition fee and spent another 10,000 NZD on living expenses and rent as a student, adding up to about ₹26 lakh. He estimated that a student would have to spend about ₹40 lakh today on fees for a similar course, accommodation, and living expenses. However, students can take up part-time work to offset some of the costs. International students in New Zealand are permitted to work part-time for up to 20 hours per week. At a minimum wage of 23 NZD per hour, a student can earn up to 1,800 NZD per week (pre-tax), or about ₹93,000. According to financial services firm Zinc Money, for students pursuing postgraduate STEM (science, technology, engineering, and mathematics) or management programmes in New Zealand, the average tuition fee is about $23,000 per year, or about 39,000 NZD. Visas and immigration After graduating from a New Zealand university, students become eligible for a 3-year post-study work visa. From this, they can transition to the migrant category visa category, which generally requires six eligibility points. Students graduating from a New Zealand university get four points, or five points for a Master's degree. The balance points can be earned by working in New Zealand for 1-2 years on the post-study work visa. After 2 years in the skilled migrant visa category, individuals can apply for permanent residency in New Zealand. Salaries and expenses Thyagaraj estimated annual starting salaries in the information technology sector or similar white-collar employment to be in the 50,000-55,000 NZD range ( ₹26-28 lakh), rising to 200,000 NZD (about ₹1 crore) in a few years. New Zealand's highest tax rate of 33% for salaried employees kicks in at a salary of 78,000 NZD. Thyagaraj currently pays about 2,000 NZD in monthly rent for a 2-bedroom apartment, which he shares with his wife and brother-in-law. Monthly expenses claim another 3,500-4,000 NZD. Healthcare is free, but comes with significant waiting to get treatment, he adds. Thyagaraj invests his savings in US index funds as well as fixed and recurring deposits in New Zealand and India. He has also bought real estate in Coimbatore, his native city in India. Buying a house in New Zealand is expensive, he said, with an average 2-bedroom apartment costing the equivalent of about ₹4 crore.
Yahoo
20-06-2025
- Business
- Yahoo
Accenture: Growth Despite Headwinds
Accenture posted expectation-beating revenue and EPS growth. The management company battled through corporate and government headwinds to produce strong results. The company's new bookings number was below expectations, a sign of the difficulty in closing new deals in this economic environment. 10 stocks we like better than Accenture Plc › Here's our initial take on Accenture's (NYSE: ACN) fiscal 2025 third-quarter financial report. Metric Q3 FY24 Q3 FY25 Change vs. Expectations Revenue $16.5 billion $17.7 billion 7.6% Beat Earnings per share $3.04 $3.49 15% Beat Free cash flow $3.0 billion $3.5 billion 17% Missed New bookings $21.1 billion $19.7 billion -6% n/a Accenture posted solid growth in a difficult period for consulting companies. Corporate customers are scaling back due to macroeconomic uncertainty, and the U.S. federal contracting environment is bogged down by efforts to cut government spending. Yet Accenture still was able to grow revenue by 7.6% and earnings per share by 15% in the quarter, topping Wall Street estimates. Financial services was the standout segment based on performance, up 13% year over year, and Accenture saw better strength in the Americas (up 9%) than it did in Europe (up 6%) or Asia (up 4%). Companywide operating margin improved by 80 basis points to 16.8%. But the results are unlikely to be enough to quell investor fears about the macro economy taking its toll. New bookings for the quarter came in at $19.7 billion, down 6% year over year. Included in that is about $1.5 billion in generative AI new bookings. Accenture remains a cash generation machine, reporting $3.5 billion in free cash flow in the quarter. The company paid $924 million in dividends and repurchased $1.8 billion of its shares in the quarter, increasing its dividend by 15% compared to fiscal 2024. Investors appear to be focusing on the bookings weakness. Accenture shares were down 5% in premarket trading ahead of the opening bell in New York. Accenture is now 75% through its fiscal year, and has seen enough to firm up some of its guidance. The company now sees full-year fiscal 2025 revenue up by 6% to 7%, compared to the previous forecast for 5% to 7% growth, and boosted its full-year earnings per share guidance to $12.77 to $12.89, from $12.55 to $12.79. Accenture expects to return "at least" $8.3 billion in capital to shareholders. There's a lot of uncertainty in the near-term guidance, with the bookings number reflecting the turbulence in the federal contracting market and uncertainty among corporate clients. But for long-term focused investors, the need for Accenture's assistance in areas such as IT modernization remains as strong as ever, and Accenture appears to be having success establishing itself as a go-to vendor to help clients incorporate artificial intelligence (AI) into their businesses. Accenture still has a lot of ways to win. Full earnings report Investor relations page Before you buy stock in Accenture Plc, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Accenture Plc wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Accenture Plc. The Motley Fool has a disclosure policy. Accenture: Growth Despite Headwinds was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
20-06-2025
- Business
- Mint
'Not just one challenge; Accenture clients are facing everything, all at once'
Accenture Plc. on Friday said Fortune 500 companies unnerved by global conflicts and tariff wars are holding back technology spending, prompting it to issue a muted guidance for the current quarter. The subdued guidance rattled investors, with shares of the world's largest information technology outsourcer trading 7.6% at $283 at 8:30pm Indian time. The guidance could signal further challenges for India's $283 billion IT services companies, which started their fiscal year on a weak note. Accenture recorded revenue growth—6% sequentially and 7.7% annually—to $17.73 billion, but the company expects slower days ahead. The company expects revenue of $17-17.6 billion in the fourth quarter (March to May). Accenture follows a September-August financial year while Indian IT firms follow an April-March calendar. The company cut its headcount by 10,000 to end with 790,000 employees last quarter. Accenture flagged the threat to businesses from US president Donald Trump's tariffs and policy flip-flops, coupled with the Iran-Israel conflict. This implies that new business might be harder to get for Indian IT outsourcers, who issue their quarterly earnings next month. 'As we shared last quarter, we continue to see a significantly elevated level of uncertainty in the global economic and geopolitical environment as compared to calendar year 2024,' said Julie Sweet, chair and chief executive of Accenture, during the company's post-earnings conference call. The IT services company did not raise the upper end of its growth guidance of 7% for the full year, reflecting its views on the macroeconomic environment. Accenture expects to spend up to $1.5 billion on acquisitions during this fiscal. The management said that about 3% of its full-year growth of 7% is expected from acquisitions. Sweet added that clients were faced with multiple challenges at once. 'In every boardroom and every industry, our clients are not facing a single challenge—They are facing everything at once, economic volatility, geopolitical complexity, major shifts in customer behavior,' she said. Accenture's dim outlook stokes further uncertainty for India's five largest software service providers including Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd and Tech Mahindra Ltd, which struggled to bag deals valued at over $1 billion last fiscal. A dwindling large order book is further expected to raise questions on the readiness of Indian IT to weather the macroeconomic storm. A third of Accenture's quarterly revenue came from its software products business. Sweet added that the pause in tech spending was short and that clients wanted to be the first to adopt artificial intelligence (AI). 'I am talking to CEOs every day, and you know, there was this whole narrative about a pause and sitting on the sidelines. And I would tell you, it was very short. Our clients have moved from pause to focus and leapfrog,' said Sweet. Earlier, an analyst said Accenture could face difficulty in bagging deals in the second half of the fiscal. 'Additionally, we believe Accenture faces difficult bookings compares in 2HFY25, which creates a tricky setup in a tepid backdrop,' said BMO Capital Markets analyst Keith Bachman, in a note dated 18 June. Bachman added that 'the economic environment has modestly weakened in aggregate,' signalling that times might be tougher for IT outsourcers as clients hold back their tech spending. However, a bright spot in the company's report card was its GenAI (generative artificial intelligence) order book. Accenture secured $1.5 billion in new GenAI bookings in the quarter, which comprised almost 8% of its overall order bookings of $19.7 billion for the quarter. In the same quarter, Accenture got revenues of $700 million from Gen AI projects. So far, since September 2023, the company has taken its total tally of orders in Gen AI to $7.1 billion. For context, Accenture's total order bookings from GenAI alone is more than the FY25 revenue of Tech Mahindra Ltd, India's fifth-largest software services company. Tech Mahindra ended last fiscal with $6.26 billion in revenue. Accenture was the first software services company to state its Gen AI deal value. This is in contrast to homegrown IT service providers, who are yet to spell out revenue or confirmed orders from the new technology.
Irish Examiner
21-05-2025
- Business
- Irish Examiner
Accenture to promote 50,000 staff after six-month delay
Accenture Plc will promote almost 50,000 people worldwide in June as the company tries to boost morale after a six-month delay to weather a slump in demand for consulting services. The Dublin-based technology giant told staff Tuesday that the promotions will include 15,000 in India, 11,000 in the Europe, Middle East and Africa region, and 10,000 across the Americas, according to internal memos seen by Bloomberg News. The move comes as the New York-listed company grapples with a pullback in client spending and greater scrutiny of US government contracts under President Donald Trump, who wants to prove taxpayers are getting value for their money. Accenture abandoned its diversity targets after Trump ordered his administration to push firms to end such practices. The company employs about 801,000 people, according to its latest earnings statement, meaning the promotions in June will include about 6% of its total workforce. The firm didn't respond to a request for comment. Accenture had already pushed the bulk of promotions to June, rather than the usual month of December. Like rivals McKinsey Plc and Ernst & Young LLP, the firm went on a pandemic-era hiring spree in response to a surge in demand. But a slowdown in business led it to cut 19,000 roles from 2023. Deloitte LLP is planning to lay off employees on its government consulting team, Bloomberg News reported in April. Last year, 'our operating margin — how we measure profitability as a percentage of revenue — contracted compared to adjusted operating margin for the second quarter last year,' Accenture said in the memos. 'We are also seeing an elevated level of uncertainty in the global economic and geopolitical environment.' It added there will be some base pay increases in core growth areas, which are based on current market conditions, while bonus and performance equity decisions will be made in December. Bloomberg
Time of India
21-05-2025
- Business
- Time of India
Accenture to promote 50,000 staff after six-month delay
The move comes as the New York-listed company grapples with a pullback in client spending and greater scrutiny of US government contracts under President Donald Trump, who wants to prove taxpayers are getting value for their money. Accenture abandoned its diversity targets after Trump ordered his administration to push firms to end such practices. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Accenture Plc will promote almost 50,000 people worldwide in June as the company tries to boost morale after a six-month delay to weather a slump in demand for consulting Dublin-based technology giant told staff Tuesday that the promotions will include 15,000 in India, 11,000 in the Europe, Middle East and Africa region, and 10,000 across the Americas, according to internal memos seen by Bloomberg move comes as the New York-listed company grapples with a pullback in client spending and greater scrutiny of US government contracts under President Donald Trump, who wants to prove taxpayers are getting value for their money. Accenture abandoned its diversity targets after Trump ordered his administration to push firms to end such company employs about 801,000 people, according to its latest earnings statement, meaning the promotions in June will include about 6% of its total workforce. The firm didn't respond to a request for had already pushed the bulk of promotions to June, rather than the usual month of December. Like rivals McKinsey Plc and Ernst & Young LLP, the firm went on a pandemic-era hiring spree in response to a surge in demand. But a slowdown in business led it to cut 19,000 roles from 2023. Deloitte LLP is planning to lay off employees on its government consulting team, Bloomberg News reported in year 'our operating margin — how we measure profitability as a percentage of revenue — contracted compared to adjusted operating margin for the second quarter last year,' Accenture said in the memos. 'We are also seeing an elevated level of uncertainty in the global economic and geopolitical environment.'It added there will be some base pay increases in core growth areas, which are based on current market conditions, while bonus and performance equity decisions will be made in December.
