Corrected: Accenture revenue rises on demand for consulting services

Image
Reuters
Last Updated : Jun 23 2016 | 8:58 PM IST

(Corrects to remove reference to adjusted earnings per share in paragraph six)

(Reuters) - Accenture Plc posted a better-than-expected 8.6 percent rise in quarterly net revenue, driven by demand for consulting services, particularly from customers in North America.

However, the mid-range of the company's forecast for fourth-quarter revenue fell slightly below analysts' average estimate.

The company said it expects fourth-quarter revenue of between $8.25 billion and $8.50 billion. Analysts were expecting revenue of $8.39 billion, according to Thomson Reuters I/B/E/S.

Net revenue from Accenture's consulting business, which accounts for a little more than half of total revenue, rose 12.4 percent in the third quarter.

Revenue from the company's outsourcing business rose 4.2 percent.

Analysts on average had expected a profit of $1.41 per share and revenue of $8.34 billion.

The net income attributable to Accenture rose to $897.2 million, or $1.41 per share, in the third quarter ended May 31, from $793.7 million, or $1.24 per share, a year earlier.

Net revenue, or revenue before reimbursements, rose to $8.43 billion from $7.77 billion.

Shares of the company, which is incorporated in Ireland, were up slightly at $119.95 in premarket trading on Thursday.

(Reporting by Rishika Sadam in Bengaluru; Editing by Martina D'Couto)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 23 2016 | 8:43 PM IST

Next Story