IT consulting firm Accenture released its latest quarterly revenue figures on Thursday, exhibiting a financial performance that beat analysts’ projections. The Dublin-based company managed to boost earnings through its use of digital, cloud, and security services to develop a hybrid work model during the height of the pandemic.
Since the pandemic’s outburst, Accenture has acquired a range of companies in the IT space, particularly as demand for IT services surged. Once global lockdowns were implemented across the globe, businesses embarked on a seismic shift towards the cloud-based digitization of their infrastructures. For many, this required the expertise of consultants such as Accenture.
Analysts have stated that, in addition to being at a 20-year high, the demand for IT services is expected to remain elevated in the near future, particularly as businesses continue to adapt to the new hybrid model of remote and on-site work.
While analysts projected a third-quarter revenue of $12.8 billion, Accenture exceeded expectations by posting a quarterly revenue of $13.3 billion. The company forecast full-year revenue growth is ranging between 10% and 11%, but according to IBES data from Refinitiv, analysts expect Accenture’s annual revenue to reach $49.17 billion.
