Accenture Business Grows to Pre-Pandemic Levels, Increases Revenue Forecast
Computer consultancy Accenture said Thursday it had rebounded to pre-pandemic growth levels and increased its revenue forecast for the entire year as more businesses use its digital services to move their businesses. cloud operations.
Shares of the company rose 4.1% to $275.05 in pre-release.
After the COVID-19 pandemic forced companies to accelerate their move to the cloud, Accenture doubled its digital services by aggressively investing in technology.
The company, which has clients across all industries including healthcare and financial services, acquired a number of cloud-focused businesses in the second quarter.
We returned to pre-pandemic overall growth ahead of expectations while continuing to gain market share faster than before the pandemic, said Julie Sweet, CEO of Accenture.
The return of demand to pre-pandemic levels is a trend reported by many other IT service companies … all of these companies have a strong presence in digital (organic or through acquisitions), said Moshe Katri, analyst at Wedbush.
Accenture now expects full-year revenue growth of between 6.5% and 8.5% in local currency, compared to its previous forecast of 4% to 6%. Analysts expected full-year revenue of $47.83 billion, according to IBES data from Refinitiv.
Revenue rose 8.5% to $12.09 billion in the quarter ended Feb. 28, compared to analysts’ estimate of $11.83 billion.
On an adjusted basis, Accenture earned $2.03 per share, beating expectations by $1.90 per share.
