Accenture stock rose as the global tech consulting and services company reported fiscal first quarter earnings and revenue that topped views.
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Accenture earnings for the quarter ended Nov. 30 came in at $2.17 per adjusted share, up 8% from a year earlier. Dublin-based Accenture (ACN) said revenue rose 2% in local currency to $11.8 billion.
Analysts expected Accenture earnings of $2.04 a share on sales of $11.36 billion for the period ended Aug. 31. A year earlier, Accenture earned $2.09 a share on sales of $11.4 billion.
Accenture stock rose 6.7% to near 264 on the stock market today. Accenture stock moved into a buy zone in late November. Heading into Accenture earnings, though, the stock had dipped just below an entry point of 247.92.
Accenture Earnings Guidance
Heading into earnings, Accenture stock had a Relative Strength Rating of 52 out of a possible 99.
The company forecast fiscal 2021 revenue growth in a range of 4% to 6% in local currency. Accenture said it expects adjusted EPS in a range of $8.02 to $8.25 a share vs. estimates of $8.05.
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.
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