Accenture revenue beats as bets on digital, cloud pay off

[September 28, 2017]  (Reuters) - Accenture Plc reported better-than-expected quarterly revenue, as the consulting and outsourcing services provider benefited from its investments in fast-growing digital and cloud service businesses.

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

Dublin, Ireland-domiciled company's revenue from "the New" – which includes digital, cloud and security-related services - grew about 30 percent to $18 billion for the year ended August 31.

Accenture had chalked out $1.8 billion for acquisitions in digital, cloud and security-related services in the fiscal year.

The company has been increasingly grabbing market share from its rivals such as Cognizant Technology Solutions Corp <CTSH.O> and IBM Corp <IBM.N>, by being early movers into the digital space.

Accenture said it expects current-quarter revenue to be between $9.10 billion and $9.35 billion. Analysts on average were expecting revenue of $9.13 billion, according to Thomson Reuters I/B/E/S.

Net income for diluted earnings per share fell to $974.2 million, or $1.48 per share, in the fourth quarter ended August 31, from $1.12 billion, or $1.68 per share, a year earlier.

Analysts on an average were expecting $1.47 per share, according to Thomson Reuters I/B/E/S.

The company's net revenue rose 7.8 percent to $9.15 billion, beating estimates of $9.01 billion.

Accenture's shares fell 1.3 percent to $134.84 in premarket trading on Thursday.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

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