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Accenture Raises Forecast After Profit Beats Estimates

Thursday, 22 Mar 2012 05:03 PM

Accenture Plc, the world’s second-largest technology-consulting company, raised its full-year earnings forecast as customers seek more advice and savings through outsourcing.

Earnings for the year ending in August will rise to between $3.82 and $3.90 a share, the company said Thursday in a statement. Analysts projected $3.80, the average of estimates compiled by Bloomberg. Second-quarter earnings also exceeded analysts’ projections.

Accenture, which trails only International Business Machines Corp. in technology-consulting sales, is seeking to boost sales by expanding outside the U.S. in markets including Brazil, Russia, India, China, Mexico and South Korea. The company employs about 244,000 people and has worked on projects including New York City’s 311 complaints service and Marriott International Inc.’s online reservations system.

“Given our strong results for the first half of fiscal 2012, we’ve raised our outlook,” Chief Executive Officer Pierre Nanterme said in the statement.

Full-year revenue will increase 10 percent to 12 percent, Accenture said. In December, it predicted full-year earnings of $3.76 to $3.84 a share and sales growth of 7 percent to 10 percent.

Second-quarter net income rose 28 percent to $643.9 million, or 97 cents a share, from $503 million, or 75 cents, a year earlier. Analysts predicted 86 cents a share.

Net sales for the quarter ended Feb. 29 increased 12 percent to $6.8 billion. Revenue from consulting, the company’s biggest unit, rose about 8 percent to $3.8 billion.

Accenture, incorporated in Dublin, fell 0.4 percent to $63.52 at the close in New York. The shares have gained 19 percent this year.

Nanterme succeeded Bill Green as CEO last year, after working at Accenture for 28 years. Green remains executive chairman.

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2012-03-22
Thursday, 22 Mar 2012 05:03 PM
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