Accenture beats estimates to post $16.16-bn revenue in Mar-May quarter

Information technology (IT) services and consulting firm Accenture beat Street expectations to clock a revenue of $16.16 billion in the quarter ended May 2022 (Q3). The number, buoyed by cloud and digital transformation, was an increase of 22 per cent over the $13.26 billion reported for the same quarter a year earlier. The double-digit growth rate augurs well for the Indian IT services industry.

Accenture follows a September-August financial year. Third quarter represented period from March-May 2022.

Though the company upped its annual revenue guidance, it expects a negative foreign exchange impact on its results to the tune of a