This post was originally published on this site
Accenture forecast third-quarter revenue above Wall Street estimates, but it excluded the impact of the war.
The company said its forecast did not include “assumptions for a significant escalation or expansion of economic disruption or the conflict’s current scope.”
Shares of the Dublin, Ireland-based company rose nearly 5% in premarket trading. The stock has fallen nearly 22% so far this year.
Earlier this month, Accenture said it was discontinuing business in Russia in response to the country’s invasion of Ukraine. The company’s revenue in Russia stood at $120 million during fiscal 2021.
New bookings for the second quarter stood at $19.6 billion, lifted by demand for its cloud and security-related services as more businesses transform to hybrid work model.
Analysts have also suggested that the enterprise software markets that include players such as Oracle (NYSE:ORCL) and Salesforce (NYSE:CRM) are showing more positive trends in client spending.
Revenue for the second quarter stood at $15.05 billion, compared with analysts’ average estimate of $14.65 billion, according to Refinitiv IBES data.
Accenture, whose clients include more than three-quarters of the Fortune Global 500 companies across communications, media & technology as well as financial services industries, is also strategically investing in cloud, acquisitions and partnerships to gain more market share.
The company expects current-quarter revenue between $15.70 billion and $16.15 billion, compared with analysts’ average estimate of $15.11 billion, according to Refinitiv IBES data.
