Accenture's strong annual forecast sparks rally in IT consulting stocks
ACN•Accenture expects fiscal 2027 revenue growth of 3% to 6%, above the 3.9% analyst average estimate, and its shares rose more than 22%. Fourth-quarter bookings increased 4% to $22.17 billion, while consulting revenue grew 7% to $9.28 billion.
1. Forecast lifts shares
Accenture shares rose more than 22%, their biggest single-day percentage gain on record, after the company forecast fiscal 2027 revenue growth of 3% to 6%. The midpoint is above analysts’ average estimate of 3.9%. Shares of Cognizant rose about 8%, IBM gained about 3%, and US-listed shares of Wipro and Infosys rose between 6% and 7%.
2. Quarterly results and plans
Accenture’s fourth-quarter bookings rose 4% to $22.17 billion. Consulting revenue grew 7% to $9.28 billion, and total sales of $18.68 billion exceeded estimates of $18.03 billion. CEO Julie Sweet said the company currently expects to deploy about $5 billion in acquisitions in fiscal 2027, based on opportunities it sees today.
