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Accenture Shares Rise on Earnings, Revenue Beats

ACN beat Q3 EPS estimates by a nickel

Accenture (NYSE:ACN) stock was on its way up Thursday following the release of its earnings report for its fiscal third quarter of 2018.

Accenture Shares Rise on Earnings, Revenue Beats
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Accenture’s earnings report for its fiscal third quarter of the year includes earnings per share of $1.79. This is an increase over the company’s earnings per share of $1.52 reported in the same period of the year prior. It was also also a boon to ACN stock by coming in above Wall Street’s earnings per share estimate of $1.72 for the quarter.

Net income reported by Accenture for its fiscal third quarter of 2018 came in at $1.06 billion. The consulting firm’s net income from its fiscal third quarter of 2017 was $704.80 million.

During its fiscal second quarter of the year, Accenture reported operating income of $1.62 billion. This is better than the company’s operating income of $865.44 million from the same time last year.

ACN stock also got a buff today from the company’s revenue of $10.84 billion for its fiscal third quarter of 2018. This is up from Accenture’s revenue of $9.36 billion that was reported in its fiscal third quarter of the previous year. It also beat out analysts’ revenue estimate of $10.04 billion for the period.

Accenture also took time during its most recent earnings report to update the outlook for its fiscal full year of 2018. It now expects earnings per share for the year to range from  $6.66 to $6.71. Its previous guidance for the period had earnings per share coming in between $6.61 to $6.70. Wall Street is looking for earnings per share of $6.69 for the full fiscal year.

ACN stock was up 5% as of noon Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/06/accenture-beats-earnings-estimates/.

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