Accenture beats estimates; revenue crosses $50 billion

IT consulting firm Accenture forecast first-quarter revenue above analysts' estimates, expecting strong demand for its Cloud and security services as companies delay return to offices and adopt hybrid work models due to the Delta variant. For full fiscal year, revenues at Accenture were $50.5 billion, an increase of 14 per cent in US dollars and 11 per cent in local currency. New bookings for the fourth quarter were $15 billion, and a record $59.3 billion for the full year, a rise of 20 per cent in US dollars over full-year fiscal 2020 new bookings. For fiscal 2022, Accenture sees 1215 per cent of revenue growth and expects to spend a similar amount on acquisitions as last year.