Categories AlphaGraphs, Earnings

Accenture beats earnings estimates as revenue jumps 16%

Professional services company Accenture (ACN) reported Q3 earnings that topped analysts estimates. During the quarter, the company reported earnings of $1.60 a share. Excluding items, the company’s earnings rose 18% to $1.79 per share, beating the consensus estimate of $1.72 per share.

Revenue during the quarter rose 16% to $10.3 million. Analysts estimated revenues of $10.04 million. The company also reported new bookings of $11.7 billion. The new bookings reflect a positive 5% foreign-currency impact when compared to prior year period.

The upbeat results during the quarter was aided by the company’s push into digital, cloud and security services, which now account for nearly 60% of total revenues. This is helping the company grab market share from its rivals. The company has been on a shopping spree. This year alone, it made five acquisitions and nearly 70 in the last three years.

 

Accenture third quarter 2018 earnings

“We continue to invest to build highly differentiated capabilities and capture new growth opportunities. These investments and our innovation-led approach position us very well to continue gaining market share and delivering value for our clients and shareholders,” said Pierre Nanterme, CEO.

Accenture updated its guidance for fiscal 2018. The company now expects net revenue growth to be in the range of 9.5-10% in local currency, compared with 7-9% previously. GAAP earnings is now expected to be in the range of $6.26-$6.31 per share, and adjusted earnings is touted to be in the range of $6.66-$6.71per share.

On May 15, 2018, the company declared a semi-annual cash dividend of $1.33 per share that was paid on Accenture plc Class A ordinary shares to shareholders of record on April 12, 2018. Shares of the Dublin-based company rose 1.97% during the pre-market trading.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top