Business Standard

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.

Accenture

Photo: Shutterstock

Reuters
IT consulting firm Accenture 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 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)

(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.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 24 2021 | 4:46 PM IST

Explore News