Accenture Earnings Fall but Beat Estimates
Accenture on Thursday reported fourth-quarter earnings fell to $316.8 million, or 50 cents per share, from 497.2 million, or 56 cents per share, in the year-earlier quarter -- but the results beat analysts' estimates.
The firm's shares in after-hour trade gained 48 cents, or 1.26 percent, at 38.50 on the New York Stock Exchange.
Wall Street consensus called for the technology consulting and outsourcing company to post earnings, before certain items, of 48 cents per share on revenue of $4.89 billion, according to Reuters Estimates. The company had predicted quarterly revenue of $4.8 billion to $5 billion.
Accenture cited increased expenses for the three months ended Aug. 31. Revenue before reimbursements rose to $5.11 billion from $3.97 billion.
William D. Green, chairman and chief executive of Accenture, said in a statement, "We are delighted with our outstanding fourth-quarter and full-year results."
"We achieved double-digit revenue growth in U.S. dollars and growth in local currency across all of our operating groups and geographies, leading to our highest quarterly and annual revenues ever," the CEO said.