Accenture stock rose as the global tech consulting and services company reported fiscal first quarter earnings and revenue that topped views.
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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