Accenture profit soars
SAN FRANCISCO (Reuters) — Accenture Ltd., one of the world’s largest consulting companies, said yesterday that second quarter net income and revenue rose, beating analysts’ estimates, on higher demand for its consulting and outsourcing services.
The company’s shares rose more than two percent in extended trading.
Net income in the company’s fiscal second quarter increased to $296.7 million, or 47 cents per share, from $69.7 million, or 11 cents per share, a year earlier, when it booked a $450 million provision for future taxes. Net revenue, excluding reimbursements, rose to $4.75 billion from $4.1 billion.
The New York-based company in December had forecast second-quarter net revenue of $4.6 billion to $4.8 billion. Accenture in December also had forecast net earnings per share of $1.80 to $1.85 for its fiscal 2007, which ends in August.
Accenture reported new bookings, an indicator of future revenue, of $5.33 billion, including a record $3.08 billion of consulting bookings. Revenue from financial services clients, one of the company’s largest segments, jumped 26 percent to $1.05 billion. Communications and high-technology-related revenue rose 6 percent to $1.09 billion.
For the second quarter, analysts, on average, expected net income per share of 42 cents and net revenue of $4.68 billion, according to Reuters Estimates. Wall Street is expecting full-year earnings per share of $1.87 and net revenue of $18.8 billion.
Accenture shares advanced 2.1 percent to $37 in extended trading after closing down 1.4 percent in regular-session trading on the New York Stock Exchange.
