Categories AlphaGraphs, Earnings, Technology

Accenture tops Q1 estimates; updates full-year outlook

Accenture (ACN) topped market estimates on both revenue and earnings for the first quarter of 2019 and updated its guidance for the full fiscal year. Shares were up 2% during premarket hours on Thursday.

Accenture first quarter 2019 earnings infographic
Accenture Q1 2019 Earnings Infographic

Total revenues were $10.6 billion, up 7% in US dollars and 9.5% in local currency, compared to the same period last year. Consulting revenues grew 8% in US dollars and 10% in local currency while Outsourcing revenues rose 7% in US dollars and 9% in local currency.

Net income grew 9% to $1.29 billion, or $1.96 per share, versus the prior-year quarter, helped by higher revenue and operating results.

New bookings for the quarter were $10.2 billion, reflecting a negative 2% foreign currency impact compared to the prior-year period.

Accenture posted revenue increases across all its operating groups, except Financial Services, which saw a decline of 1% in US dollars. The company saw broad-based revenue growth across all its geographic regions during the quarter.

In November, Accenture paid a semi-annual cash dividend of $1.46 per share, which totaled $933 million and represented a 10% increase over the previous semi-annual dividend declared in March.

Accenture earnings preview: Wall St sees broad-based growth in Q1

For the second quarter of 2019, Accenture expects revenues to come in the range of $10.10 billion to $10.40 billion, reflecting a growth of 6-9% in local currency and the assumption of a negative 4% foreign exchange impact versus the same period last year.

Accenture updated its outlook for the full fiscal year of 2019 based on the assumption of a negative 3% foreign-exchange impact on its results in US dollars versus the previous assumption of negative 2.5%. The company expects revenues to grow 6-8% in local currency versus the previous range of 5-8%. Diluted EPS is expected to be $7.01 to $7.25 versus the prior range of $6.98 to $7.25.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

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,

One thought on “Accenture tops Q1 estimates; updates full-year outlook

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top