By Chavi Mehta
(Reuters) – IT consulting firm Accenture said on Thursday it has bounced back to pre-pandemic growth levels and raised its full-year revenue forecast as more businesses use its digital services to shift operations to the cloud.
The company’s shares rose 4.1% to $275.05 in premarket trading.
The company, which has clients across industries, including health and financial services, acquired a number of cloud-focused ventures during the second quarter.
For the second quarter, the company reported a record $16 billion in total new bookings, up 13% from a year earlier.
“The return in demand to pre-pandemic levels is a trend reported by many other IT services companies … all of these companies have a strong presence in digital (organic or via acquisitions),” Wedbush analyst Moshe Katri said.
Accenture now expects full-year revenue to grow between 6.5% and 8.5% in local currency, compared to its previous outlook of 4% to 6%. Analysts had expected full-year revenue of $47.83 billion, according to IBES data from Refinitiv.
Revenue rose 8.5% to $12.09 billion in the quarter ended Feb. 28, compared with analysts‘ estimates of $11.83 billion.
On an adjusted basis, Accenture earned $2.03 per share, beating expectations of $1.90 per share.
(Reporting by Chavi Mehta in Bengaluru; Editing by Subhranshu Sahu and Shounak Dasgupta)