Business

Accenture revenue beats as pandemic boosts demand for cloud, IT consulting services

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June 24 (Reuters) – IT consulting firm Accenture Plc (ACN.N) posted higher third-quarter revenue on Thursday that beat analysts’ estimates, as more businesses used its digital, cloud and security services to adapt to a hybrid work model in a post-pandemic world.

Accenture, which acquired a number of businesses during the quarter, witnessed higher demand for its IT consulting services as the pandemic forced more companies to shift towards a cloud-based digitization strategy.

Analysts say that the demand for IT consulting services is at a 20-year high and is likely to stay elevated, as businesses across sectors including finance and health depend on companies such as Accenture and its peers to adapt to a new hybrid work model.

Revenue rose to $13.3 billion in the quarter ended May 31 from $11 billion a year earlier. Analysts on average had estimated revenues of $12.8 billion, according to IBES data from Refinitiv.

The company forecast full-year revenue growth in the range of 10% and 11%, above its previous outlook. Analysts on average expected full-year revenue to be $49.17 billion, according to IBES data from Refinitiv.

Reporting by Chavi Mehta in Bengaluru; Editing by Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles.

Read more at www.reuters.com

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