leadf
logo-loader
viewAccenture

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

NYSE:ACN
Market: NYSE
Market Cap: $167.83 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

CO2 GRO sees 20% higher pepper yields though 10 weeks of Hidroexpo Feasibility

CO2 GRO (CVE: GROW- OTCQB: BLONF) Vice President of Sales and Strategic Alliances Aaron Archibald joined Steve Darling from Proactive to bring details the company has seen very good results from their CO2 Delivery Solution commercial feasibility on greenhouse-grown peppers with Hidroexpo in...

1 hour, 44 minutes ago

2 min read