Accenture’s revenue and bookings in second quarter are above estimates: Morgan Stanley

A Morgan Stanley note has stated that the revenue and bookings of tech giant Accenture in the second quarter are above estimates, leading to increased revenue growth guidance this fiscal.

According to the brokerage, Accenture’s deal win momentum and positive management commentary are good for Indian information technology (IT) vendors.

The company reported very strong second-quarter results and, immediately, announced a one-time bonus for all its employees on March 18. For the quarter ending February 28, 2021, the company said that its revenues were $12.1 billion, a rise of 8 percent in US dollars.

The bonus is for all employees, below the level of the managing director. It will be equivalent to their one week’s base salary. The company announced the bonus to recognise the employees’ efforts during the COVID-19 pandemic last year.

Accenture, now, expects its full-year revenue to grow between 6.5 percent and 8.5 percent in local currency — a jump from its earlier guidance of 4 percent to 6 percent.

Julie Sweet, the chief executive officer of the company, said in a statement that with the outstanding second-quarter results, Accenture has returned to overall pre-pandemic growth ahead of expectations.