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Accenture grows at pre-epidemic, raising revenue forecasts

IT consultant firm Accenture said on Thursday it had returned to pre-epidemic growth level and raised its full-year financial forecast as more businesses used their digital services to deliver services in the cloud.

The company’s shares increased by 4.1% to $ 275.05 in previous trading.

After the COVID-19 epidemic forced companies to accelerate their migration to the cloud, Accenture doubled its digital services by angrily investing in technology.

The company, which has clients in all industries, including health and financial services, acquired a number of cloud-based services in the second quarter.

“We are back to pre-epidemic growth ahead of expectations and are still receiving market share sooner than before the epidemic,” said Accenture CEO Julie Sweet.

“Pre-epidemic rehabilitation is a practice that has been reported by many other IT service companies … all of these companies are mostly digital (organic or acquisitions),” said Wedbush analyst Moses Katri.

Accenture now expects annual revenue to grow between 6.5% and 8.5% in local currency, compared to its previous forecast of 4% to 6%. Analysts were expecting a full annual revenue of $ 47.83 billion, according to IBES data from Refinitiv.

Revenue increased by 8.5% to $ 12.09 billion in the quarter ended February 28, compared to analysts’ $ 11.83 billion.

On a revised basis, Accenture received $ 2.03 per share, beating expectations of $ 1.90 per share.

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