Accenture revenue excels as the lockdown increases demand for cloud & IT consulting

Accenture Plc reported higher third-quarter revenue that above analysts expectations on Thursday, as more firms utilised its digital, cloud, and security services to adapt to a hybrid work style in a post-pandemic environment.

Accenture, which bought several firms during the quarter, saw increased demand for its IT consulting services as the pandemic drove more businesses to transition to a cloud-based digitalization strategy.

According to analysts, demand for IT consulting services is at a 20-year high and is expected to remain strong as firms in industries such as finance and health rely on organisations such as Accenture and its rivals to adapt to a new hybrid work paradigm.

Revenue increased to $13.3 billion in the fiscal quarter ending May 31 from $11 billion the previous year. According to Refinitiv IBES data, analysts anticipated revenues of $12.8 billion on average.

The business anticipates full-year sales growth of 10% to 11%, up from its prior projection. According to IBES statistics from Refinitiv, analysts projected full-year sales of $49.17 billion on average.

Very recently we saw AWS planning to develop in India by utilising cloud. According to a top business official, Amazon Web Services (AWS) is eyeing expansion in the critical Indian market by accessing considerable potential in areas such as financial services, media and entertainment, and telecom.

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