Accenture reports 7.5% rise in quarterly revenue
Bengaluru: Accenture Plc reported better-than-expected quarterly revenue, as the consulting and outsourcing services provider benefited from its investments in fast-growing digital and cloud service businesses.
Dublin, Ireland-domiciled company’s revenue from “the New”—which includes digital, cloud and security-related services—grew about 30% to $18 billion for the year ended 31 August.
Accenture had chalked out $1.8 billion for acquisitions in digital, cloud and security-related services in the fiscal year.
The company has been increasingly grabbing market share from its rivals such as Cognizant Technology Solutions Corp. and IBM Corp, by being early movers into the digital space.
Accenture said it expects current-quarter revenue to be between $9.10 billion and $9.35 billion. Analysts on average were expecting revenue of $9.13 billion, according to Thomson Reuters I/B/E/S.
Net income for diluted earnings per share fell to $974.2 million, or $1.48 per share, in the fourth quarter ended 31 August, from $1.12 billion, or $1.68 per share, a year earlier.
Analysts on an average were expecting $1.47 per share, according to Thomson Reuters I/B/E/S.
The company’s net revenue rose 7.8% to $9.15 billion, beating estimates of $9.01 billion. Reuters