Accenture 4Q Profit Up 37% On Strong Bookings, Outlook Upbeat |
| Wall Street Journal - Sep 27, 2011 |
Accenture PLC's (ACN) fiscal fourth-quarter earnings jumped 37% as the consulting company reported strong bookings.
Shares were up 3.4% at $55.48 after hours on the latest period's better-than-expected results as well as strong guidance. The stock hit its highest level ever in July, the same month it was added to the Standard & Poor's 500 index, and has since fallen 16% through the close.
For the fiscal first quarter, the company predicted net revenue of $6.8 billion to $7 billion, beating the $6.7 billion projected by analysts surveyed by Thomson Reuters. In the just-begun fiscal year, Accenture predicted per-share earnings of $3.80 to $3.88 on net revenue growth of 7% to 10% in local currency. Analysts expected $3.39 a share in profit.
In the latest period, new bookings were $8.4 billion, its highest quarterly bookings ever. Chief Executive Pierre Nanterme said the achievement reflected strong demand for Accenture's services, although he said the company is closely monitoring the economic environment.
One of the world's biggest standalone consulting companies, Accenture's latest results follow the record per-share earnings it posted in the fiscal third quarter. Market-share wins and robust demand have propelled revenue higher across operating groups and regions recently.
Read Full Article from Wall Street Journal
- Posted: 2011-09-27 16:11:56
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