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Accenture revenue rises on demand for consulting services

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

June 23, 2016 / 17:48 IST

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 USD 8.25 billion and USD 8.50 billion. Analysts were expecting revenue of USD 8.39 billion, according to Thomson Reuters.

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.

Excluding items, the company earned USD 1.30 per share.

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

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

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

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

first published: Jun 23, 2016 05:48 pm

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