Global information technology services stocks fell sharply in premarket trading on Thursday after weaker guidance from Accenture reignited concerns about slowing demand and margin pressure across the sector, particularly as clients reassess spending on large transformation programs.
The selloff hit Indian IT ADRs and European peers almost immediately. Infosys American Depositary Receipts dropped 4.4% to $11.18, while Wipro and Cognizant also declined in premarket trading. In Europe, firms such as Capgemini and Sopra Steria extended earlier losses, reflecting broad-based pressure on the sector.
Investor sentiment weakened after Accenture trimmed its full-year revenue growth forecast to 3%–4% in constant currency, down from 3%–5%, and issued fourth-quarter guidance below analyst expectations. The company also reported softer-than-expected revenue and a decline in bookings, particularly in managed services, signaling uneven demand even as consulting activity showed relative strength. Shares of Accenture fell sharply in premarket trading following the update.
Despite the cautious outlook, Accenture emphasized that demand for large-scale digital and artificial intelligence transformation projects remains strong, pointing to continued growth in high-value enterprise contracts. However, investors appear increasingly concerned that AI-driven automation could reshape traditional IT services demand over time, putting pressure on revenue visibility and margins across the industry.
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