IT service provider Accenture beat Wall Street estimates for first-quarter revenue on Thursday, on the back of growing demand for its services to help clients adopt AI-powered tools.
Shares of the company rose 5% in premarket trading.
Businesses are investing heavily in scaling their AI projects and digitizing their core operations to boost efficiency and cut costs, which is helping companies such as Accenture.
The company’s new bookings rose to $18.7 billion for the first quarter from $18.4 billion a year earlier.
According to data compiled by LSEG, Accenture’s first-quarter revenue was $17.7 billion, beating analysts’ estimates of $17.12 billion.
The company expects annual revenue to grow between 4% and 7%, compared with analysts’ expectations of 5.63%. It had earlier forecast growth of 3%-6%.
