Accenture posts strong Q4 results, annual revenue at record $50.5 billion

Accenture's total revenue rose about 24% to $13.42 billion in the fourth quarter, in line with analysts' expectations of $13.42 billion.

Accenture, an IT consulting giant, forecasted first-quarter revenue above analysts’ expectations on Thursday, citing increased demand for cloud and security services as employers postpone their return to offices due to the Delta variation.

In the fourth quarter, total sales increased by roughly 24% to $13.42 billion, in line with analysts’ expectations of $13.42 billion.

For the entire fiscal year, revenues reached a new high of $50.5 billion, up 14% in US dollars and 11% in local currency. Operating margins increased by 40 basis points to 15.1 percent.

The IT giant’s new bookings were $15 billion in the fourth quarter and $59.3 billion for the entire year, a 20 percent rise in US dollars.

Accenture, which has Fortune Global 500 clients in fields like health and financial services and media, has made several acquisitions this year to meet this expanding demand.