Anurag Rana

speaker

534 appearances 29 recordings 3 series first heard Dec 2025 last heard 10 Sep

Anurag Rana’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 29 in all, peaking in Apr 2026 with 7.

Appearances

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Bloomberg Talks · Instant Reaction Earnings Roundup: Microsoft, Meta & Tesla Deliver Results · 28 Jan 2026 podcast

is something that they have a good handle on.

And I think they're executing it very well.

But the consulting division only grew up 1%.

So even though they are getting a lot of that, as you said, 80% of those bookings from consulting, it's not driving the entire division up because as we know from some of the other vendors and we'll find out today also, the non-AI IT spending is pretty bad right now.

throughout the ecosystem so people are cutting back on that and deploying those funds into ai related services and that's something that's hurting ibm as well but imagine even with consulting growing only one percent their total company growth rate was nine percent and i think that's something to you know be proud of

Well, the thing is, think about it this way.

The backlog is up and the capex is up.

Then why isn't growth accelerating?

And I think that's the biggest question for all of us.

I personally think it's a supply problem, but it's a temporary problem.

But as we know right now, the trade is to sell software and buy semis.

And I think I don't see that changing tomorrow morning.

Bloomberg Tech · Tech Left Behind in S&P 500’s Latest Rebound · 3 Dec 2025 podcast

Yeah, there are two elements of it.

One of the most important part is the size of the company.

It's a very large software company, very big revenue base.

So even if you see adoption of whether it's data cloud on the AI side or agent force, it doesn't move the needle if the macro is bad.

And that's really the big narrative for whether it's Salesforce or Workday or a lot of other software companies is,

enterprise tech spending on the non-AI side of it is not that strong.

People are not adding headcount at the same rate they were a few years ago.

And that is what's weighing in the subscription growth rate of all these companies.

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