Accenture plc (NYSE:ACN) reported its results for the first quarter. Accenture is a global management consulting, technology services, and outsourcing company.
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Accenture plc Earnings Cheat Sheet
Results: Net income for Accenture plc rose to $698.8 million ($1.06 per share) vs. $642.1 million (96 cents per share) in the same quarter a year earlier. This marks a rise of 8.8% from the year-earlier quarter.
Revenue: Rose 1% to $7.67 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Accenture plc beat the mean analyst estimate of $1.04 per share. It beat the average revenue estimate of $7.16 billion.
Quoting Management: Pierre Nanterme, Accenture’s chief executive officer, said, “We are pleased with our first-quarter results, in particular our ability to drive profitable growth despite the continued volatility in the global economic environment. Revenue growth, which included a strong 13 percent local-currency increase in outsourcing, was in line with our expectations. We also delivered very good profitability, reflecting our disciplined management of the business. Looking ahead, we remain focused on the successful execution of our growth strategy and are investing to further differentiate our industry and technology capabilities, as well as to expand our geographic footprint in key growth markets. We are raising our business outlook for both EPS and operating margin for the full fiscal year and remain well-positioned to continue delivering value for our clients and shareholders.”
Revenue has risen for the last four quarters. Revenue increased 1.6% to $7.29 billion in the fourth quarter of the last fiscal year. The figure rose 6.1% in the third quarter of the last fiscal year from the year earlier and climbed 11.8% in the second quarter of the last fiscal year from the year-ago quarter.
The company beat estimates last quarter after being in line with expectations in the fourth quarter of the last fiscal year with net income of 88 cents per share.
The increase in profit last quarter comes after net income fell in the previous quarter. In the fourth quarter of the last fiscal year, net income declined 5.5% to $578.3 million.
Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the second quarter is 97 cents per share, up from 95 cents ninety days ago. For the fiscal year, the average estimate has moved up from $4.14 a share to $4.27 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)