Accenture stock surges on upbeat earnings

Accenture (ACN.US) stock jumped at one point more than 10% during today's session after the IT consulting company posted better-than-expected quarterly results. Accenture earnings for the quarter ended Nov. 30 rose 20% to $2.78 on an adjusted basis, while revenue, including acquisitions jumped to 27% to $14.97 billion with more clients seeking its cloud and security services. Sales increased over 20% across the four biggest industry groups in Accenture’s customer base.

Meanwhile analysts expected earnings of $2.64 a share and revenue of $14.22 billion. Last year, the company reported earnings of $2.32, and revenue of $11.76 billion. Accenture also lifted its full-year revenue guidance to a range of 19% to 22% growth, up from 12% to 15% growth. Accenture raised its EPS outlook to a range of $10.32 to $10.60, from previous $9.90 to $10.18. 

Accenture (ACN.US) stock launched today's session with a bullish price gap and hit fresh all-time high at $412.00 after which price pulled back. The upper limit of the ascending channel should act as the nearest support. Source: xStation5