Tags: Accenture | profit | expectations | earnings

Accenture's Profit Tops Views on Consulting Revenue

Friday, 25 Jun 2010 09:26 AM

Accenture PLC said Thursday that its net income rose a better-than-expected 11 percent in its fiscal third quarter, as more companies returned to spending on consulting and outsourcing services.

However, the company issued a dimmer forecast for the current period.

For the three months ended May 31, the company earned $490.6 million, or 73 cents per share. That compared with $444 million, or 68 cents per share, in the year-ago period. Total revenue rose to $5.57 billion from $5.15 billion in the same quarter of 2009, with gains seen across all regions and particularly in its financial services group.

The company said consulting revenue rose 9 percent to $3.22 billion, while revenue from outsourcing climbed 7 percent to $2.35 billion. New bookings for the quarter totaled $6.43 billion, with consulting contracts accounting for $3.18 billion and outsourcing for $3.25 billion.

That brings total year-to-date new bookings to $18.5 billion, and puts Accenture on track to deliver full-year bookings toward the middle of its previously guided range of $23 billion to $26 billion.

The earnings and revenue results beat analysts' average estimate for earnings of 69 cents per share on revenue of $5.46 billion. The news sent Accenture's shares up 85 cents to $38.40 in after-hours trading, having closed the regular session down 62 cents at $37.55.

The company forecast fourth-quarter revenue of $5.15 billion to $5.35 billion — slightly below analysts' $5.36 billion forecast — partly due to unfavorable foreign currency fluctuations. Accenture now expects its full-year profit to come in toward the lower half of its previously forecast range of $2.61 to $2.69 per share.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
Companies
Accenture PLC said Thursday that its net income rose a better-than-expected 11 percent in its fiscal third quarter, as more companies returned to spending on consulting and outsourcing services. However, the company issued a dimmer forecast for the current period. For...
Accenture,profit,expectations,earnings
264
2010-26-25
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved