Accenture revenue rises on demand for consulting services

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Updated: June 23, 2016 5:34:17 PM

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

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

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.

Also Read: Accenture launches seven new analytics applications

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.

Excluding items, the company earned $1.30 per share.

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.

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