News: Accenture raises full-year revenue forecast on strong digital services demand.
(Reuters) – IT consultancy Accenture raised its full-year revenue forecast on Thursday, reporting revenue for the second quarter in excess of analysts’ estimates as more companies turned to their digital services to operate in the cloud to relocate.
After the COVID-19 pandemic forced companies to accelerate their move to the cloud, Accenture doubled its digital services through aggressive investments in cloud-based technology.
The company, which has clients across a variety of industries including healthcare and financial services, even acquired a number of cloud-focused companies in the second quarter.
The company 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%. According to IBES data from Refinitiv, analysts estimate total annual sales at $ 47.83 billion.
Revenue for the quarter ended February 28 increased from $ 11.14 billion a year ago to $ 12.09 billion. According to IBES data from Refinitiv, analysts had expected sales of 11.83 billion US dollars.
(This story corrects typing errors in the headline)
Reporting by Chavi Mehta in Bengaluru; Editing of Subhranshu Sahu
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