Accenture Plc’s reports net income of $1.36 billion on the strength of its cloud and digital services

Accenture Plc’s first quarter earnings have beaten Wall Street analysts’ estimates, on the back of fast-growing digital and cloud services businesses.

The IT consulting firm has shifted its focus to the cloud and offers a wide range of services ranging from managing clients’ social media marketing strategies to helping them move to the cloud.

Accenture has reported gross margin of 32.1%, compared to last year’s 31.1%.

It has forecast current-quarter revenue to be in the range of $10.85 billion and $11.15 billion, the midpoint of which is below the average analyst estimate of $11.09 billion, according to IBES data from Refinitiv.

Accenture’s net income has risen to $1.36 billion, equivalent to $2.09 per share, in the first-quarter ended November 30, up from $1.27 billion, a year earlier.

It reported a quarterly profit of $2.09 per share, above analysts’ estimate of $2 per share.

Its net revenue rose to $11.36 billion, beating analysts’ estimates of $11.14 billion.

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