Shares of Accenture (ACN) are down $2.65, or almost 4%, at $67.75 in late trading after the company this afternoon reported fiscal Q1 revenue that slightly missed analysts’ estimates, but beat on the bottom line, and forecast this quarter’s revenue below consensus, but projected full-year net revenue to beat expectations.
Revenue in the three months ended in November rose 2%, year over year, to $7.22 billion, yielding EPS of $1.06.
Analysts had been modeling $7.3 billion and $1.04.
For the current quarter, the company sees revenue in a range of $6.9 billion to $7.15 billion,� versus the average $7.15 billion estimate.
CEO Pierre Nanterme said the company was “pleased” with the results, adding that “Looking ahead, we remain focused on the successful execution of our growth strategy and are investing to further differentiate our industry and technology capabilities, as well as to expand our geographic footprint in key growth markets.”
For the full year, the company sees revenue rising by 5% to 8%, year over year, excluding foreign exchange effects, which would equate to$29.25 billion to $30.1 billion, which is higher than the average estimate of analysts of $29.43 billion.
The company raised its outlook for the full year’s profit per share to a range of $4.24 to $4.32 from a prior range of $4.22 to $4.30. That is above the consensus for $4.26 per share. The company sees operating profit margin rising by 20 to 30 basis points during the year, it said.
Accenture management will host a conference call with analysts at 4:30 pm, Eastern time, and you can catch the webcast of it here.
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