Accenture 1Q beats, but guidance doesn't
Accenture PLC said its first-quarter net income rose 20 percent on strong revenue growth in both its consulting and outsourcing businesses.
The Dublin-based management and technology services consultancy said it earned $642.1 million, or 96 cents per share, during the fiscal quarter that ended Nov. 30. That was up by 20 percent from net income of $534.7 million, or 81 cents per share, a year earlier.
Revenue rose 17.1 percent to $7.59 billion, from $6.48 billion a year earlier.
Analysts surveyed by FactSet had been expecting a profit of 94 cents per share, on revenue of almost $7 billion.
Consulting revenue rose 14 percent to $4.1 billion. Outsourcing revenue was up 21 percent to $3 billion.
Accenture said it expects to earn $3.76 to $3.84 per share in 2012. That's 4 cents per share lower than it expected previously because a stronger dollar means that foreign currencies it holds aren't worth as much in dollars.
Analysts had been expecting 2012 net income of $3.83 per share.
Accenture shares fell $1.43, or 2.6 percent, to $54.70 in aftermarket trading.