Tech services and solutions companies around the globe have had an interesting year at the equity markets, which have had myriad facets of ups and downs attached to them. Accenture, the Irish multinational tech company, is one of the biggest IT companies in the world.
Accenture Reports Strong Numbers
While quarterly results have presented varied outcomes in the recent past, Accenture managed to beat estimates with its quarterly results. This comes right after Oracle, who released results that fell below estimates.
In contrast, Accenture not only lived up to the market estimates, but surpassed. As a result of this, the company shares, listed on the New York Stock Exchange rose significantly on Thursday, December 19.
This surge is driven by the biggest factor in the world tech, AI. Artificial intelligence has become the cornerstone of almost all major developments in the world of tech, around the globe. | File
Accenture's quarterly revenue stood at USD 17.7 billion, which is bigger than the analyst's estimates USD 17.12 billion. In addition, the company reported, new bookings worth USD 18.7 billion. Previously, in the same quarter last year, the company had recorded bookings worth USD 18.4 billion.
Aid Of AI
This surge is driven by the biggest factor in the world tech, AI. Artificial intelligence has become the cornerstone of almost all major developments in the world of tech around the globe.
While many worry and remain anxious at the prospect of a major shift in paradigm, some have benefitted from this surge. Accenture is one of those companies. This has also been reflected in the rise of the company's business as well.
Accenture At NYSE
Coming to the company stocks, the improvement in the balance sheet has also aided tech firm's fortunes on Wall Street.
The company has enjoyed reasonable progress in the past 6 months of trade.
In the past 6 months, Accenture shares have grown by 21.56 per cent or USD 66.00.
The trend of growth continued on December 19, as the company shares rose monumentally at the back of the strong earnings numbers.
As the day's trade came to a close, Accenture shares rose by 7.03 per cent or USD 24.43. This took the overall value of the company shares to USD 372.16 per piece.
