Accenture revenue beats as pandemic drives demand for cloud and IT consulting services
June 24 (Reuters) – Computer consultancy firm Accenture Plc (ACN.N) posted more revenue than analyst estimates on Thursday, as more companies used its digital, cloud and security to adapt to a hybrid working model in a post-pandemic world.
Accenture, which acquired a number of companies in the quarter, has seen increased demand for its IT consulting services as the pandemic forces more companies to move towards a cloud-based digitization strategy .
Analysts say demand for IT consulting services has peaked in 20 years and is expected to remain high as companies across industries including finance and healthcare rely on companies like Accenture and its peers. to adapt to a new model of hybrid work.
Revenue reached $ 13.3 billion in the quarter ended May 31, from $ 11 billion a year earlier. Analysts had estimated revenue on average at $ 12.8 billion, according to IBES data from Refinitiv.
The company expects revenue growth of around 10% to 11% for the year as a whole, higher than its previous forecasts. Analysts on average expected annual revenue of $ 49.17 billion, according to IBES data from Refinitiv.
Report by Chavi Mehta in Bengaluru; Editing by Rashmi Aich
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