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Accenture raises full-year revenue forecast on strong digital services demand

After the COVID-19 pandemic forced companies to expedite their move to the cloud, Accenture doubled down on its digital services by aggressively investing in cloud-based technology.

March 18, 2021 / 05:01 PM IST

IT consulting firm Accenture raised its full-year revenue forecast on Thursday and reported second-quarter revenue above analysts' estimates, as more businesses used its digital services to shift operations to the cloud.

After the COVID-19 pandemic forced companies to expedite their move to the cloud, Accenture doubled down on its digital services by aggressively investing in cloud-based technology.

The company, which has clients across industries, including health and financial services, even acquired a number of cloud-focused ventures during the second quarter.

The company now expects full-year revenue to grow between 6.5 percent and 8.5 percent in local currency, compared to its previous guidance of 4 percent to 6 percent. Analysts on average estimate full-year revenue to be $47.83 billion, according to IBES data from Refinitiv.

Revenue rose to $12.09 billion in the quarter ended February 28 from $11.14 billion a year earlier. Analysts had expected revenue of $11.83 billion, according to IBES data from Refinitiv.
Reuters
first published: Mar 18, 2021 04:55 pm

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