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Accenture revenue forecast tops estimates on cloud, security services demand -Breaking

by Mike Robinson

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(Reuters] -IT consulting company Accenture (NYSE 🙂 Plc predicted better-than expected second quarter revenues on Thursday. The growth of Accenture’s first-quarter top line grew by 27%. It was riding a digital transformation wave, with more clients looking for its cloud security services and cloud solutions.

Accenture has maintained its strong client spending. Its revenues have risen by 14% and clients’ spending is back to pre-pandemic levels.

The shares of Accenture have increased by 42% over the past year thanks to higher spending on cloud adoption and digitization.

Accenture is investing aggressively in cloud, security, and digital services to capitalize upon the digitization trend. Analysts believe it bodes well because it faces Cognizant, Infosys, and Infosys for market share.

According to data from Refinitiv IBES, the revenue for the third quarter ending Nov. 30, was $14.97 Billion, which is a decrease of analysts’ average estimate at $14.19 billion.

Accenture expects to earn between $14.30 and $14.75 Billion in current quarter revenues, which is lower than the median estimate by analysts of $14.09 billion.

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