IT consulting firm Accenture raised its full-year revenue forecast on Thursday and reported second-quarter revenue above analysts' estimates, as more businesses used its digital services to shift operations to the cloud.
After the COVID-19 pandemic forced companies to expedite their move to the cloud, Accenture doubled down on its digital services by aggressively investing in cloud-based technology.
The company, which has clients across industries, including health and financial services, even acquired a number of cloud-focused ventures during the second quarter.
The company now expects full-year revenue to grow between 6.5 percent and 8.5 percent in local currency, compared to its previous guidance of 4 percent to 6 percent. Analysts on average estimate full-year revenue to be $47.83 billion, according to IBES data from Refinitiv.
Revenue rose to $12.09 billion in the quarter ended February 28 from $11.14 billion a year earlier. Analysts had expected revenue of $11.83 billion, according to IBES data from Refinitiv.