Accenture stock rose early Thursday as the global tech consulting and services company reported fiscal second-quarter earnings and revenue that topped views. Dublin-based Accenture’s May-quarter revenue outlook came in above expectations.
X
Accenture earnings for the period ended Feb. 28 were $2.03 per adjusted share, up 10% from a year earlier. Accenture (ACN) said revenue rose 8% to $12.1 billion, including acquisitions.
Analysts expected Accenture earnings of $1.90 a share on sales of $11.83 billion. A year earlier, Accenture earned $1.84 a share on sales of $11.1 billion.
Accenture stock rose 4.8% to near 277 in early trading on the stock market today. Heading into Accenture’s earnings, the stock had an entry point of 271.28.
Accenture Stock: Ahead On Revenue Forecasts
For the current quarter ending in May, Accenture forecast revenue of $12.75 billion at the mid-point of guidance. Analysts had predicted revenue of $12.2 billion.
In addition, Accenture stock owned a Relative Strength Rating of 47 out of a possible 99.
Accenture continues to make acquisitions to move into digital, cloud and cybersecurity products. It also has invested in artificial intelligence and blockchain technology.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
YOU MAY ALSO LIKE
How This IBD Tool Simplifies The Search For Top Stocks
Get Full Access to IBD Stock Lists And Ratings
Find Compelling Growth Stocks With IBD’s Stock Of The Day
View Breakout Stocks & Technical Analysis
These Stocks Earned A Spot On The IBD Leaderboard
[ad_2]
Source