Here's Why Accenture's Stock Is Bouncing Back Today
Shares of Accenture (NYSE: ACN) are soaring today, pushed skyward by a strong second-quarter earnings report. The stock posted a brief 17.6% spike in the early morning before settling down to a milder gain of 6.3% at 1 p.m. EDT.
The global business consulting and outsourcing veteran saw second-quarter revenues rise 6.6% to $11.1 billion, right in line with Wall Street's consensus projections. Earnings increased by 10% to $1.91 per diluted share, comfortably ahead of the analyst target at $1.72 per share. Looking ahead, Accenture lowered its full-year revenue targets to account for slowdowns related to the coronavirus crisis. At the same time, the company collected $14.2 billion of new order bookings in the quarter -- a company record, pointing to strong revenues in the long term.
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Source Fool.com
