Accenture Beats Profit, Sales Expectations

Accenture PLC reported on Thursday a fiscal third-quarter net profit that slipped to $840 million, or $1.24 a share, from $868.9 million, or $1.26 a share, in the same period a year ago. Excluding non-recurring items, such as a pension settlement charge, the management consulting company said adjusted earnings per share came in at $1.30, beating the FactSet consensus of $1.22. Revenue rose 0.4% to $7.77 billion, above the FactSet consensus of $7.54 billion, as strength in North America offset declines in Europe and growth markets. Excluding the impact of currency movements, total revenue would have increased 10%. Looking ahead, Accenture expects fourth-quarter revenue of $7.45 billion to $7.7 billion, surrounding the FactSet consensus of $7.57 billion. For the full year, the company now projects adjusted EPS of $4.73 to $4.78, compared with a previous forecast of $4.66 to $4.76. The stock, which slipped 1.3% in light premarket trade, has run up 9.5% year to date through Wednesday, while the S&P 500 has gained 2.4%.