Accenture Plc (NYSE:ACN) reported better fiscal third quarter earnings. Looking forward the firm raised its outlook for the whole year. The firm also inhaled weaker-than-expected affect of foreign currency rates.
Now for the full year through August, the firm forecasts net revenue of 9% to 10% in Euro, up from its earlier estimation of 8% to 10% in revenue. Earnings before some items are expected to be in range of $4.73 and $4.78 a share, bolstering its estimation compared to its previous per-share earnings projection of $4.66 to $4.76. Analysts’ expects the firm to report earnings of $4.74 a share.
The consulting firm is projecting net sales of $7.45 billion to $7.70 billion, while including 10 percent the impact of foreign currency rates, for the ongoing quarter. Analysts’ aren’t as bullish as the firm is as expect revenue of $7.58 billion.
Accenture has made a name for itself in the outsourcing and consulting businesses in all over the world. The firm’s earning’s in these segments are keeping up with pace in recent years. Last year the firm further got a major success when it fix the hacked HealthCare.gov website which opened itself to big business customers in market and in December it said that it had won a five-year $563 million contract to continue to provide its expertise to federal insurance site.
Accenture net earnings in the third quarter dropped $817.3 million year-on-year to $793.7 million. If excluding the pension related costs, profit hiked to $1.30 a share. The firm bested analysts’ estimate of $1.23 a share in earnings.
Net revenue edged up 0.4% to $7.77 billion, compared to $7.74 billion a year earlier. Currency shifts cost the firm 10 percent revenue, but still less than the 11% impact the company had projected. The firm overcomes its own revenue forecast of $7.35 billion to $7.60 billion.
The revenue attributable by consulting unit was $4.11 billion. While Outsourcing sector has added $3.66 billion to company’s revenue account.
