© Reuters. FILE PHOTO: Accenture PLC logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration
-Accenture Plc surpassed Wall Street estimates for quarterly revenue on Friday, a sign that IT spending is holding strong even as economic headwinds pressure businesses.
Companies are prioritizing spending on IT infrastructure as well as management and transformation projects which have become key as firms adopt more digital work-flows.
The company forecast second-quarter revenue in the range $15.20 billion to $15.75 billion. The mid-point of the guidance is lower than analysts’ estimate of $15.61 billion, according to Refinitiv.
Revenue grew 5% to $15.7 billion in the quarter ending Nov. 30, inching past analysts’ estimate of $15.58 billion, according to Refinitiv. New bookings in the quarter were $16.22 billion, down by 3%.
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