Accenture forecasts upbeat full-year revenue

FILE PHOTO: Visitors look at devices at Accenture stand at the Mobile World Congress in Barcelona, February 26, 2013. REUTERS/Albert Gea

(Reuters) -Consulting and outsourcing services provider Accenture Plc raised its full-year sales forecast and beat quarterly revenue estimates on Thursday, as an extended work-from-home period boosted its digital, cloud and security services.

Shares of the company rose about 4% in light premarket trading.

The COVID-19 pandemic has forced companies to expedite their move to the cloud, benefiting large IT consulting firms such as Accenture, which serves across industries including health and financial services.

The company forecast fiscal year 2021 revenue growth between 4% and 6%, above its previous estimate of growth between 2% and 5%.

Accenture expects second-quarter revenue to be between $11.55 billion and $11.95 billion, above Wall Street estimates of $11.35 billion.

Total revenue rose to $11.76 billion in the first quarter ended Nov. 30 from $11.36 billion a year earlier, beating analsysts’ estimate of $11.36 billion, according to IBES data from Refinitiv.

Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri