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Stock Alert: Accenture Hits New 52-week On Quarterly Results, Raised Outlook

Shares of Accenture plc (ACN) are rising almost 8 percent or $19.51 in Thursday's morning trade at $266.96, after hitting a new 52-week high of $271.18 as the consulting firm's quarterly results beat estimates and it also raised its full-year outlook.

Thursday, Accenture reported first-quarter net income of $1.50 billion or $2.32 per share, up from $1.36 billion or $2.09 per share in the year-ago period. Adjusted earnings were $2.17 per share. Revenue rose to $11.76 billion from $11.36 billion last year.

On average, analysts polled by Thomson Reuters expected the company to earn $2.05 per share for the quarter on revenues of $11.36 billion.

For fiscal 2021, Accenture now expects revenue growth in a range of 4 percent to 6 percent in local currency, up from the prior range of 2 percent to 5 percent. The company now expects full-year adjusted earnings per share in a range of $8.02 to $8.25, up 8 percent to 11 percent over adjusted fiscal 2020 earnings per share of $7.46.

The Street expects earnings of $8.05 per share for the year on revenues of $46.72 billion.

Accenture has traded in a range of $137.15 to $271.18 in the past 52 weeks.

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