Accenture revenue rises on demand for consulting services

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[June 23, 2016]  (Reuters) - Accenture Plc posted a better-than-expected 8.6 percent rise in quarterly net revenue, driven by demand for consulting services, particularly from customers in North America.

Visitors look at devices at Accenture stand at the Mobile World Congress in Barcelona, February 26, 2013. REUTERS/Albert Gea/File Photo
 

However, the mid-range of the company's forecast for fourth-quarter revenue fell slightly below analysts' average estimate.

The company said it expects fourth-quarter revenue of between $8.25 billion and $8.50 billion. Analysts were expecting revenue of $8.39 billion, according to Thomson Reuters I/B/E/S.

Net revenue from Accenture's consulting business, which accounts for a little more than half of total revenue, rose 12.4 percent in the third quarter.

Revenue from the company's outsourcing business rose 4.2 percent.

Analysts on average had expected a profit of $1.41 per share and revenue of $8.34 billion.

The net income attributable to Accenture rose to $897.2 million, or $1.41 per share, in the third quarter ended May 31, from $793.7 million, or $1.24 per share, a year earlier.

Net revenue, or revenue before reimbursements, rose to $8.43 billion from $7.77 billion.

Shares of the company, which is incorporated in Ireland, were up slightly at $119.95 in premarket trading on Thursday.

(Corrects to remove reference to adjusted earnings per share in paragraph six.)

(Reporting by Rishika Sadam in Bengaluru; Editing by Martina D'Couto)

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