Shares of Accenture were rising Thursday after the management consulting giant raised its revenue and earnings outlook for fiscal 2022.
Accenture (ticker: ACN) said it now expects fiscal-year revenue growth of19% to 22% in local currency, vs. the 12% to 15% growth outlook issued in September. Earnings per share were estimated to be $10.32 to $10.60, compared with previous guidance of $9.90 to $10.18.
Analysts tracked by FactSet expect revenue growth of 11.5% and earnings of $10.48 a share in fiscal 2022.
Accenture stock was up 10.31% to $413.99 in premarket trading on Thursday.
The technology and outsourcing company reported fiscal first-quarter earnings of $2.78 a share, above Wall Street estimates of $2.64. Revenue in the quarter was $15 billion, surpassing estimates of $14.2 billion.
Ireland-based Accenture said new bookings for the quarter were a record $16.8 billion, with outsourcing bookings contributing $7.4 billion and consulting bookings reaching a record of $9.4 billion.
“Broad-based business momentum reflected in bookings growth of 30% year-over-year,” said Cowen analyst Bryan Bergin with an Outperform rating on the stock
The company expects revenue for the second quarter to be in the range of$14.30 billion to $14.75 billion. This includes the assumption of a negative 4% foreign-exchange impact compared with the year earlier quarter.
Write to Karishma Vanjani at [email protected]
