Accenture's Stock Rises After Profit, Sales Beat Expectations

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Accenture's stock rose 1.5% in premarket trade after the management consulting company reported better-than-expected fiscal first-quarter results. The company also raised its full-year sales growth outlook, but lowered its earnings per share forecast because of the negative impact of foreign currency fluctuations. For the quarter ended Nov. 30, earnings rose to $882.2 million, or $1.29 a share, from $800.9 million, or $1.15 a share, topping the FactSet consensus analyst estimate of $1.20 a share. Revenue rose 7% to $7.9 billion, above analyst forecasts of $7.69 billion. For 2015, the company revised its sales growth view to a range of 5% to 8% and its per-share earnings projection to $4.66 to $4.80, from 4% to 7% and from $4.74 to $4.88, respectively. The stock has gained 3.8% this year through Wednesday, compared with an 8.9% rise in the S&P 500.

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