Accenture: profit forecast disappoints, shares down

(CercleFinance.com) - Consulting and IT outsourcing services giant Accenture said it expected earnings to grow in its new fiscal year, although less than analysts were expecting, which sent the company's shares slightly down in Wall Street on Thursday.


Accenture said it expects profit of 7.62 dollars to 7.84 dollars per share for its new financial year that started earlier this month, slightly higher than EPS of 7.36 dollars posted the previous fiscal year, which ended in August.

In comparison, the consensus was expecting EPS of 7.96 dollars.

In a statement, Accenture said that it has met or exceeded all its initial targets for fiscal 2019.

In addition, with record new bookings of 45.5 billion dollars, the group is benefiting from "excellent demand," it added.

Accenture's fourth-quarter net income attributable rose to 1.13 billion dollars, or 1.74 dollar per share, from 1.03 billion dollars, or 1.58 dollar per share, a year earlier.

Accenture also said that fourth-quarter revenues increased 5% to 11.1 billion dollars.

The shares were down 1.4% on Thursday morning on the New York Stock Exchange.

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