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Companies are prioritizing spending on IT infrastructure as well as management and transformation projects which have become key as firms adopt more digital work-flows.
The company forecast second-quarter revenue in the range $15.20 billion to $15.75 billion. The mid-point of the guidance is lower than analysts’ estimate of $15.61 billion, according to Refinitiv.
Revenue grew 5% to $15.7 billion in the quarter ending Nov. 30, inching past analysts’ estimate of $15.58 billion, according to Refinitiv. New bookings in the quarter were $16.22 billion, down by 3%.
