Accenture Raises Annual Adjusted Earnings, Revenue Guidance -- Earnings Review
March 22 2018 - 7:49AM
Dow Jones News
By Allison Prang
Accenture Plc (ACN) released results for its second quarter
before the market opened Thursday. Here's what you need to
know.
PROFIT: Accenture made $863.7 million, or $1.37 a share, up 3%
from $838.8 million, or $1.33 a share, it made in same quarter last
year. On an adjusted basis, the company made $1.58 a share.
Analysts polled by Thomson Reuters were expecting $1.49 a
share.
NEW TAX LAW IMPACT: Accenture said it had a $137 million charge
from the new tax law. That charge came out to 21 cents a share.
NET REVENUE: Net revenue was $9.59 billion, up 15% from $8.32
billion for the same period a year ago.
3Q GUIDANCE: The company said it expects net revenues to be
between $9.9 billion and $10.15 billion in its third quarter. It is
expecting growth in local currency between 6%-9%, it said.
ANNUAL GUIDANCE: Accenture said it expects net revenue to
increase 7%-9% in local currency, higher than its previous
expectation of 6%-8%. The company expects to make $6.40 to $6.49 a
share and $6.61 to $6.70 on an adjusted basis. That estimate is
higher than its previous expectation of adjusted earnings of $6.48
to $6.66 a share. Analysts are expecting adjusted earnings of $6.68
a share.
Shares fell 1.9% premarket on low volume. In the past year,
they've risen 28%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
March 22, 2018 07:34 ET (11:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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