Why Accenture Stock Popped Today

Shares of Accenture (NYSE: ACN) popped as much as 10% today after the company reported fiscal first-quarter earnings. The results topped expectations and Accenture boosted its full-year outlook.

Revenue in the fiscal first quarter was $11.76 billion, easily beating the consensus estimate of $11.36 billion. That translated to adjusted earnings per share of $2.17, compared to the $2.05 per share in adjusted profits that Wall Street analysts were looking for. Bookings in the quarter were $12.9 billion. The consulting giant recently announced Accenture Cloud First, an initiative to help clients adopt modern technologies as part of their digital transformations.

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Source Fool.com