CORRECT: Accenture's Stock Gains After Profit Tops Estimates, Outlook Raised

MarketWatch Pulse

Shares of Accenture rose 0.9% in premarket trade Thursday, after the management consulting company topped fiscal second-quarter profit expectations, and raised its full-year sales outlook. For the quarter ended Feb. 28, earnings rose to $731.8 million, or $1.08 a share, from $714.1 million, or $1.03 a share, beating the FactSet consensus analyst estimate of $1.07 a share. Revenue increased 5% to $7.49 billion, with growth in North Americas sales offsetting a decline in Europe sales. Excluding the effects of currency movements, overall sales grew 12%, which topped the FactSet consensus of $7.37 billion. For the full fiscal year, the company said it now expects revenue growth, excluding currency effects, of 8% to 10%, compared with a previous outlook of 5% to 8%. The stock has lost 1.2% year to date through Wednesday, while the S&P 500 has gained 0.1%. (This replaces an earlier item that incorrectly stated that sales missed the FactSet consensus estimate.)

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below