NEW YORK (TheStreet) -- Accenture (ACN) shares are up 5.7% to $90.18 in early market trading on Thursday after the outsourcing technology and services provider reported its first quarter earnings results before the opening bell today.
The company said it earned $1.29 per share during the quarter, 14 cents better than the company reported last year and 9 cents better than the $1.20 analysts were expecting it to report this year.
The company generated revenue of $7.9 billion during the period, a 7.3% increase over the previous year, that also beat analysts' expectations of $7.69 billion in revenue.
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The company issued second quarter revenue guidance between $7.25 billion and $7.50 billion while analysts are expecting the company to earn $7.46 billion during the period.
TheStreet Ratings team rates ACCENTURE PLC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACCENTURE PLC (ACN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, increase in stock price during the past year and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."