Shares of Accenture PLC
ACN,
+0.01%
rallied 3.6% toward record territory in premarket trading Thursday, after the management consulting company reported fiscal third-quarter profit and revenue that beat expectations, and raised its full-year outlook, citing demand for digital transformation. Net income for the quarter to May 31 rose to $1.55 billion, or $2.40 a share, from $1.23 billion, or $1.90 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.40. Revenue grew 20.7% to $13.26 billion, above the FactSet consensus of $12.81 billion, with gross margin improving to 33.2% from 32.1%. New bookings jumped 39% to $15.4 billion, including 30% growth in consulting bookings and a 52% rise in outsourcing bookings. For fiscal 2021, the company raised its adjusted EPS guidance range to $8.71 to $8.80 from $8.32 to $8.50, and its outlook for operating cash flow to $8.65 billion to $9.15 billion from $7.65 billion to $8.15 billion. The stock, which is on track to open above the April 29 record close of $292.54, has gained 9.4% year to date through Wednesday, while the S&P 500
SPX,
-0.11%
has advanced 12.9%.
