Accenture Plc beat estimates for quarterly earnings and raised its full-year pro...
- Accenture Plc beat estimates for quarterly earnings and raised its full-year profit forecast on Thursday as it continues to benefit from investments in digital and cloud services, sending its shares 4 percent higher.
Wedbush analyst Moshe Katri said Accenture’s beat and raise reflect a very bullish spending environment for the IT services sector. Accenture, which has spent billions of dollars over the recent years on acquisitions to strengthen its business, said on Thursday it still expects to spend up to $1.5 billion on deals during fiscal 2019. It has already made at least three small acquisitions this year.
The company’s revenue rose 5.5 percent to $10.45 billion, ahead of estimates of $10.30 billion, according to IBES data from Refinitiv.
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