Persistent discretionary spend weakness
Tech and telecom verticals saw deeper-than-expected cuts in discretionary spending, which may continue to pressure revenue.
HCLTECH / Q1-FY24 / risks
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HCLTech · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
High ask rate for FY24 guidance
Analysts questioned the feasibility of achieving guidance given the soft Q1 and the need for a sharp acceleration in subsequent quarters.
Revenue forecasting inaccuracies
Management acknowledged that forecasting discretionary spend has been challenging, leading to repeated misses in recent quarters.