👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Accenture Gains On Revised Guidance, Strong Quarter    

Published 24/06/2021, 14:22
© Reuters.
ACN
-

By Dhirendra Tripathi

Investing.com – Accenture (NYSE:ACN) shares rose more than 4% in Thursday’s premarket trading after the company raised its guidance, backed by a strong performance in the third quarter ended May 31.

This is the Accenture’s second revision of the guidance after its first in March. The pace of digital transformation and the optimism around it are driving the IT consulting giant.

For fiscal 2021, the company now expects revenue growth to be in the range of 10% to 11% in local currency, compared with 6.5% to 8.5% previously.

Operating margin for the full fiscal year is seen at 15.1%, an expansion of 40 basis points from fiscal 2020. The company previously expected operating margin to expand 30 basis points to 40 basis points.

One basis point is one-hundredth of a percentage point.

Revenue in the company’s third quarter rose 16% in local currency to $13.3 billion. It was approximately $300 million above the top end of the company’s guided range of $12.55 billion to $12.95 billion.

Net income for the quarter was $1.57 billion, a 25% increase from the third quarter last year.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.