Accenture's revenue beats the Street

"We are very pleased with our third-quarter financial results," said company boss Pierre Nanterme.

Man in suit
The business consultant lifted revenue growth guidance

Shares in business consultant Accenture PLC (NYSE:CAN) edged higher in pre-market trade after fiscal third quarter figures pleased the market.

Earnings per share of US$1.41 for the three months to the end of May were bang in line with expectations, and up from US$1.24 the year before, while total revenue grew to US$8.97bn from US$8.28bn, ahead of market expectations of US$8.75bn.

New bookings for the quarter were $9.1 billion, with consulting bookings of $4.9 billion and outsourcing bookings of $4.2 billion.

“We are very pleased with our third-quarter financial results and the continued strong momentum in our business. We delivered 10% revenue growth in local currency, and our new bookings of $9.1 billion demonstrate that we are providing highly relevant services to our clients. We expanded operating margin, generated strong free cash flow and returned $1.2 billion in cash to our shareholders,” said Pierre Nanterme, Accenture’s chairman and also its chief executive officer.

In the fourth quarter it expects revenue to fall somewhere between US$8.25bn and US$8.5bn.

For fiscal 2016, the company now expects net revenue growth to be in the range of 9.5-10.5% in local currency terms, compared with 8-10% previously.

“Looking ahead, we are confident in our ability to continue gaining market share, driving profitable growth and delivering value for our clients and shareholders,” Nanterme said.

Accenture’s shares were up 1.7% an hour ahead of the market opening.

Quick facts: Accenture

Price: 253.65 USD

Market: NYSE
Market Cap: $167.83 billion

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