December 19, 2024
Shares of Accenture ( ACN ) surged Thursday after the professional services and consulting firm reported first-quarter results that topped analysts' expectations and lifted its full-year revenue growth forecast.
Accenture posted $17.7 billion in revenue for the quarter, up from $16.2 billion the same time last year and above the $17.1 billion analysts projected as artificial intelligence (AI) bookings climbed.
The company recorded $2.28 billion in net income , or $3.59 per share, better than the $1.98 billion, or $3.10 per share, the company reported a year ago. Those figures also beat analysts' estimates compiled by Visible Alpha.
Accenture said it anticipates second-quarter revenue of $16.2 billion to $16.8 billion, with analysts expecting roughly $16.66 billion. The company also lifted its full-year revenue outlook , projecting growth of 4% to 7% compared to fiscal 2024, up from 3% to 6% previously.
However, the Ireland-based firm lowered its full-year earnings per share (EPS) projection, warning exchange rates would have a negative impact of 0.5% compared to last year. Accenture had previously expected it to have a 1.5% positive effect.
The company now expects EPS between $12.43 to $12.79, down from $12.55 to $12.91 previously, which still amounts to growth of 9% to 11% from last year.
Accenture shares were up 7% Thursday morning, putting them back in the green for the year after recovering from Wednesday's losses.
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