Accenture Posts Good Numbers and Visa Plans Acquisitions
Accenture plc is multinational company that provides consulting and processing services. Accenture has seen strong financials and rankings as a global stage as it stands as a Fortune Global 500 company with reported revenues of $44.33 billion in 2020 and 537,000 employees.
Accenture’s stock currently trades at $291.56 as of Thursday’s closing bell. Accenture’s just reported its financial results for the third quarter of fiscal 2021, which ended on May 31. The results looked solid with a reported $13.3 billion in revenue, an increase of 21% year-over-year. The progress didn’t stop at revenue, in fact, earnings per share sat at $2.40 for the quarter, a 26% increase. Would you consider buying Accenture?
Visa is a multinational financial services corporation. Visa facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Recently Visa has expanded into the crypto space while also maintaining over 65,000 transaction messages per second.
Despite seeing growth, Visa Inc. closed $0.93 below its 52-week high ($238.25), which the company achieved on June 24th. This performance was underwhelming relative to the performance of other similar companies. Visa has also had news of an acquisition they want to make of a European open banking platform called Tink. Tink’s empowers financial service providers to build the relevant tools and products to serve European consumers. The deal is worth $2.14 billion and will help Visa significantly expand their market in the region.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.