Accenture revenue beats expectations as bets on digital, cloud pay off
The Dublin-domiciled company’s net revenue grew to €7.76bn
Accenture has chalked out $1.8 billion for acquisitions in digital, cloud and security-related services in the fiscal year. Photograph: Albert Gea/Reuters
Global services company Accenture 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.
The Dublin-domiciled company’s revenue from “the New” – which includes digital, cloud and security-related services – grew about 30 per cent to $18 billion (€15.2 billion) for the year ended August 31st.
Accenture had chalked out $1.8 billion for acquisitions in digital, cloud and security-related services in the fiscal year.
Accenture said it expects current-quarter revenue to be $9.10 billion-$9.35 billion. Analysts on average were expecting revenue of $9.13 billion, according to Thomson Reuters.
Net income for diluted earnings per share fell to $974.2 million, or $1.48 per share, in the fourth quarter ended August 31st, from $1.12 billion, or $1.68 per share, a year earlier.
The company’s net revenue rose 7.8 per cent to $9.15 billion, beating estimates of $9.01 billion.
Accenture’s shares fell 1.3 per cent to $134.84 in premarket trading on Thursday.