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ACN Stock: Accenture Earnings Top Views; Revenue Outlook Light

Accenture (ACN) early Tuesday reported fiscal first-quarter earnings and revenue that topped Wall Street estimates amid its acquisition spree. Meanwhile, the company’s February quarter revenue outlook for ACN stock came in below expectations.




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Accenture earnings for the quarter ended Nov. 30 rose 6% to $3.27 per share on an adjusted basis, said the Dublin-based global tech services and consulting firm. Including acquisitions, revenue climbed 3% to $16.2 billion, Accenture said.

Analysts expected Accenture earnings of $3.14 a share on sales of $16.17 billion. A year earlier, Accenture earned $3.08 a share on sales of $15.75 billion.

Bookings rose 14% to $18.4 billion.

On the stock market today, ACN stock slipped 2% to 335 in morning trades. ACN stock had advanced 29% this year heading into the Accenture earnings report.

ACN stock ended Monday’s session above a cup base entry point of 330.44. Accenture stock traded within a 5% buy zone.

ACN Stock: Revenue Outlook Light

For its fiscal second quarter, which ends in February, Accenture said it expects revenue in a range of $15.4 billion to $16 billion. Analysts called for revenue of $16.25 billion.

For the full fiscal year, Accenture maintained guidance for 2% to 5% revenue growth.

In 2023, Accenture hiked its quarterly dividend by 15% to $1.29 a share. It also added $4 billion to a stock buyback program.

Meanwhile, Accenture continues to make acquisitions to move into digital marketing, cloud computing services and artificial intelligence.

Further, ACN stock has a Relative Strength Rating of 84 out of a best-possible 99, according to IBD Stock Check Up.

Follow Reinhardt Krause on X, formerly called Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.

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