Accenture Plc Shares Fall After Earnings Report Disappoints

Published on: 22 Jun, 2017

Accenture Plc (NYSE: ACN) shares fell about 4% Thursday after the company reported financial results for the third quarter of fiscal 2017, ended May 31, 2017, with net revenues of $8.9 billion, an increase of 5 percent in U.S. dollars and 7 percent in local currency over the same period last year.

Accenture Plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services.

Operating income for the quarter was $865 million, or 9.8 percent of net revenues, including the $510 million pension settlement charge. Excluding this charge, operating income was $1.38 billion, or 15.5 percent of net revenues, compared with $1.31 billion, or 15.5 percent of net revenues for the third quarter last year.

New bookings for the quarter were $9.8 billion, with record consulting bookings of $5.2 billion and outsourcing bookings of $4.6 billion.

Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our strong third-quarter financial results. We delivered 7 percent revenue growth in local currency and gained significant market share, with broad-based growth across most dimensions of our business. I am particularly pleased with our new bookings of $9.8 billion, which demonstrate that our services and capabilities continue to be highly differentiated in the marketplace… We are clearly benefiting from the diversity of our business – from an industry, geographic and capability standpoint – which drives durability in our financial performance.”

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Danny Abramov

Email: danny@financialinsiders.com

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