Accenture (NYSE:ACN) stock is on the move Thursday after releasing earnings and announcing an acquisition.
Starting with earnings, the company reported diluted earnings per share of $2.60 for its fiscal fourth quarter of 2022. That’s better than the $2.58 per share reported in the same period of the year prior. That represents an 18% increase from its EPS in the fiscal fourth quarter of 2021.
When it comes to revenue, Accenture reported $15.42 billion for the quarter. That’s just below the $15.43 billion in revenue that analysts were expecting during the quarter. However, it’s a 15% increase year-over-year.
Accenture also includes guidance for fiscal Q1 2023 in its latest earnings report. This has it expecting revenue to range from $15.2 billion to $15.75 billion. That’s not looking the best next to Wall Street’s revenue estimate of $16.06 billion for the quarter.
Accenture Is Adding to its Business With an Acquisition
In addition to that earnings report, Accenture also agreed to acquire Inspirage from RLH Equity Partners. Inspirage is a consulting and IP company that helps clients better manage their supply chains. The financial details of this deal weren’t revealed in the company’s news release.
Trading volume for ACN stock isn’t overly strong despite today’s news. This has around 770,000 shares on the move as of this writing. That’s still a ways off from its daily average trading volume of about 2 million shares.
ACN stock is up slightly as of Thursday morning after seeing larger gains earlier this morning.
Investors looking for more of the latest stock market news today are in luck!
InvestorPlace has them covered with all of the hottest stock market news for Thursday! Among that is what has shares of housing stocks, Novavax (NASDAQ:NVAX), and Li Auto (NASDAQ:LI) on the move today. You can catch up on all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
