No improvement in IT companies’ commentary – Report

New Delhi: An analysis of the latest quarterly results of 24 global companies indicate no material improvement in the demand environment, as macro uncertainties prevail, Emkay Global Financial Services said in a report.

Overall commentary remains broadly in-line with Indian IT companies. For IT services companies, weak discretionary spending, slower decision making, and revenue conversion amid uncertain macro environment, are leading to revenue softness in this quarter as well, with an uncertain recovery timeline.