Accenture's (NYSE: ACN) stock jumped 7% on March 23, after it posted its latest earnings report. For the second quarter of fiscal 2023, which ended on Feb. 28, the IT services giant's revenue rose 5% (9% in local currency terms) to $15.8 billion and exceeded analysts' expectations by $220 million. Its adjusted earnings rose 6% to $2.69 per share and also cleared the consensus forecast by $0.19.
Accenture's growth rates were stable, but its stock is still trading more than 30% below its all-time high from December 2021. Should investors buy it today as a turnaround play?
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