Accenture posts 1Q profit, results beat Wall Street forecasts

MarketsAssociated Press

Accenture PLC (ACN) on Thursday reported earnings of $831.5 million in its fiscal first quarter.

On a per-share basis, the Dublin-based company said it had profit of $1.29.

Continue Reading Below

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The consulting company posted revenue of $7.9 billion in the period, also topping Street forecasts. Analysts expected $7.67 billion, according to Zacks.

Accenture expects full-year earnings to be $4.66 to $4.80 per share. It raised its estimate of revenue growth for the year to a range of 5 percent to 8 percent in local currency compared with an earlier estimate for growth of 4 percent to 7 percent.

Accenture shares have risen nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 9 percent. The stock has climbed 15 percent in the last 12 months.

_____

Elements of this story were generated by Automated Insights using data from Zacks Investment Research. ACN stock research report from Zacks.

_____

Keywords:Accenture,Earnings Report