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Accenture Q3 revenue beats estimates on pandemic-driven demand

More businesses used its digital, cloud and security services to adapt to a hybrid work model in a post-pandemic world.

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Accenture | Q3 results | IT services

Reuters 

Accenture
Photo: Shutterstock

IT consulting firm Plc 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 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 such as 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)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, June 24 2021. 16:46 IST
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