Accenture posts strong quarterly results

The need for consultancy, digital and cloud services has helped quarterly result exceed expectations

Accenture, the multinational management consulting, outsourcing, and technology services company, reported fiscal Q1 2021 earnings that came ahead of expectations.

In the past quarter, Accenture posted an EPS of $2.32, topping the $2.05 consensus. Compared to last year’s figures, the EPS went up 11%. At the same time, the quarterly cash dividend reached $0.88 per share, marking a 10% increase from that reported a year ago.

In fiscal Q1, Accenture’s revenues came in at $11.8 billion, exceeding by $200 million the company’s forecast. Moreover, the figures came in 4% higher than those reported in fiscal Q1 2020.

Despite the pandemic, the Dublin-based company saw a 25% increase in bookings in the past quarter reaching $12.9 billion. More than half of the amount is from consulting.

For the future, Accenture expects its full-year revenue to report 4% up to 6% growth, with the EPS reaching a high of $8.25, supporting its decision with the strong demand for digital and cloud services.

Following the news, Accenture stock price jumped 5%.

Sources: businesswire.com, seekingalpha.com