Accenture (NYSE:ACN) earnings for the professional services company’s fiscal first quarter of 2020 have ACN stock up on Thursday. This comes from its adjusted per-share earnings of $2.09 on revenue of $11.36 billion. These are both better than Wall Street’s estimates of $1.99 per share and $11.14 billion.
Here are some additional highlights from the Accenture earnings report.
- Adjusted earnings per share are up 6.62% from $1.96 in the same period of the year prior.
- Revenue comes in 7.07% higher than the $10.61 billion in fiscal Q1 2019.
- Operating income of $1.77 billion is an 8.59% increase YoY from $1.63 billion.
- The Accenture earnings report also includes a net income of $1.38 billion.
- That’s a 6.98% increase over the company’s net income of $1.29 billion from the same time last year.
Julie Sweet, CEO of Accenture, has this to say about the ACN stock earnings.
“With 9 percent revenue growth in local currency, we again gained significant market share. We also delivered strong profitability and cash flow, and returned $1.2 billion in cash to shareholders while continuing to invest significantly in our business.”
The Accenture earnings report also includes an update to its fiscal 2020 outlook. It now expects adjusted EPS to range from $7.66 to $7.84. The previous guidance range was $7.62 to $7.84. For comparison, Wall Street is looking for ACN to report adjusted per-share earnings of $7.82 in fiscal 2020.
ACN stock was up 1.04% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.