Why did Accenture stock surge Thursday?

Thursday's gains brought Accenture shares back into positive territory for the year, recovering from Wednesday's losses. Shares of Accenture (ACN) surged Thursday after the professional services and consulting firm reported first-quarter results that topped analysts' expectations and lifted its full-year revenue growth forecast.

Did Accenture beat Wall Street forecasts for Q1?

S hares of IT services firms like Infosys, TCS, Wipro, and HCL Technologies edged higher up to 1% on Friday, after IT forerunner Accenture beat Wall Street estimates for Q1 revenue and profit and raised its annual forecast, reflecting growing demand for IT services, and lifting market sentiment for the sector.

What does Accenture do?

Accenture Plc is a multinational professional services company, which provides management consulting, technology, and outsourcing services. The company generates revenues from five industry groups, including Communications, Media, and Technology; Financial Services; Health and Public Service; Products; and Resources.