Accenture 1Q net income rises 8 percent
Associated Press (Published: 19-Dec 2013 9:52 AM, Received: 9:53:09 AM)
By The Associated Press
Word Count: 216
NEWS: Accenture PLC said Thursday that its fiscal first-quarter net income rose 8 percent on higher demand for its outsourcing services. The consulting firm also raised its fiscal full-year guidance, sending its shares higher.
DETAILS: The company, which is incorporated in Dublin, Ireland, said revenue from its outsourcing business rose 5 percent to $3.42 billion.
NUMBERS: Net income rose to $751.8 million, or $1.15 per share, in the three months ending Nov. 30. That compares with $698.8 million, or $1.06 per share, in the same quarter a year ago. Net income used for calculating earnings per share in the latest period was $800.9 million, which included $49.1 million in net income attributable to non-controlling interests in Accenture SCA and Accenture Canada Holdings Inc.
Revenue before reimbursements, or net revenue, rose 2 percent to $7.36 billion from $7.22 billion.
Analysts expected earnings of $1.09 per share and net revenue of $7.25 billion, according to FactSet.
FUTURE: For the full fiscal year, the company raised is earnings expectations to $4.44 per share and $4.56 per share, up from its prior earnings forecast between $4.42 per share and $4.54 per share.
Analysts expected earnings of $4.46 per share.
STOCK: Up $3.93, or 5.2 percent, to $79.55 in afternoon trading Thursday.
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Original headline: Accenture 1Q net income rises 8 percent
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