HCLTech's AI revenue rose 78% in a year. It is still 6% of sales.
HCLTech, the Indian IT services group, reported $219 million of what it calls advanced AI revenue for the quarter to September, up 78% from a year earlier in constant currency, according to its results slides reported by…
HCLTech, the Indian IT services group, reported $219 million of what it calls advanced AI revenue for the quarter to September, up 78% from a year earlier in constant currency, according to its results slides reported by Investing.com on 12 October.
Total revenue was $3,724 million, up 2.6% on a year earlier in constant currency. New bookings reached $3,258 million, up 27%.
Headcount rose by 6,450 to 230,339. The company expects revenue growth of 2.5% to 4.0% for the full year.
Chairperson Roshni Nadar Malhotra said the accelerating growth in advanced AI revenue validates the company's strategy, Investing.com reported.
The arithmetic: $219 million of $3,724 million is 5.9% of the quarter's revenue. The slides, as reported, do not split the AI line into new work and AI work inside existing contracts.
When an IT services firm pitches AI to you, do you ask whether that work is new or part of a contract you already have?
Image: AI-generated.
Sources
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