Accenture Profit Jumps on Improved Demand for Consulting

Accenture, one of the world's largest consulting companies, said after U.S. markets closed Tuesday that quarterly profit jumped as revenue rose on higher demand for its consulting and outsourcing services.

Accenture shares, which lost 1.44% of their value during regular trading hours Tuesday

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Net income in the company's fiscal second quarter increased to $296.7 million, or 47 cents a share, from $69.7 million, or 11 cents a share a year earlier, when it booked a $450 million provision for future taxes.

Net revenue, which excludes reimbursements, rose to $4.75 billion from $4.1 billion.

The New York-based company in December had forecast second-quarter net revenue of $4.6 billion to $4.8 billion.

Accenture in December also had forecast net earnings per share of $1.80 to $1.85 for its fiscal 2007, which ends in August.

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Accenture reported new bookings, an indicator of future revenue, of $5.33 billion, including a record $3.08 billion of consulting bookings. Revenue from financial services clients, one of the company's largest segments, jumped 26% to $1.05 billion. Communications and high-technology-related revenue rose 6% to $1.09 billion.

For the second quarter, analysts, on average, expected net income per share of 42 cents and net revenue of $4.68 billion, according to Reuters Estimates. Wall Street is expecting full-year earnings per share of $1.87 and net revenue of $18.8 billion.