Accenture revenue forecast tops estimates on cloud, security demand

Accenture now expects full-year revenue to grow between 19% and 22% from 12% to 15% forecast earlier

IT consulting firm Accenture Plc forecast better-than-expected second-quarter revenue on Thursday, as more clients seek its cloud and security services, sending its shares up more than 10% in premarket trade.

Client spending, which rebounded last fiscal year to pre-pandemic levels due to a shift to hybrid working models, has stayed strong with Accenture reporting robust bookings of $16.8 billion in the reported quarter, up 30% from a year earlier.

"This is the direct result of having executed for years a strategy to rotate our business to digital, cloud and security," Accenture Chief Executive Officer Julie Sweet said.

Analysts expect investments in these segments