Reuters: Technology News: Accenture beats profit estimates, cautious on full-year revenue

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Accenture beats profit estimates, cautious on full-year revenue Mar 28th 2013, 14:58 Tweet Share this Email Print Related News Dollar General profit tops expectations, shares up Mon, Mar 25 2013 Nike profit tops Wall Street estimates, shares rise Thu, Mar 21 2013 Lululemon says pants recall could dent profit by $40 million Thu, Mar 21 2013 KB Home to ramp up growth amid strong housing recovery Thu, Mar 21 2013 Oracle blames sales force for Q3 miss, stock drops Wed, Mar 20 2013 Analysis & Opinion Indian IT finds promise in Europe as continent looks at offshoring States are riding a revenue roller coaster Visitors look at devices at Accenture stand at the Mobile World Congress in Barcelona, February 26, 2013. Credit: Reuters/Albert Gea Thu Mar 28, 2013 10:13am EDT (Reuters) - Accenture Plc beat analysts' second-quarter profit estimates on strength in its outsourcing business, but said full-year revenue growth would be below the midpoint of its previously forecast range of 5 to 8 percent. Outsourcing revenue rose 9 percent to $3.3 billion in the quarter, while consulting revenue fell by about 1 percent to $3.8 billion. Accenture's shares fell about 2 percent in premarket trading, after closing at $74.88 on the New York Stock Exchange on Wednesday. The company's stock has risen 5.5 percent since it reported results in December. During the same period, the S&P 500 IT Services (Industry) index gained 9 percent. The company kept unchanged its forecast for earnings of $4.24 to $4.32 per share for the year ending August 31. Analysts on average were expecting full-year earnings of $4.26 per share on revenue of $29.3 billion, according to Thomson Reuters I/B/E/S. Growth of 5 to 8 percent implies revenue of between $31.66 billion and $32.16 billion. While an industry wide rebound in discretionary spending is expected only in the second half of the year, rivals such as Cognizant Technology Solutions Corp and Infosys Ltd reported growth in consulting revenue for the quarter ended December 31. In December, Accenture forecast a second quarter below investor expectations, saying clients continued to defer discretionary spending in Europe. Second-quarter net income rose to $1.19 billion, or $1.65 per share, from $714.2 million, or 97 cents per share, a year earlier. Excluding one-time items, it earned $1.00 per share. Second-quarter revenue rose 4 percent to $7.06 billion. Analysts on average had expected earnings of 97 cents per share on revenue of $7.07 billion. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sreejiraj Eluvangal) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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