Accenture plc (NYSE: ACN) beat market expectations for earnings in the fourth quarter of 2019 while revenue came in line with estimates. Shares were down 0.46% in premarket hours on Thursday.
Total revenues of $11.1 billion were up 5% in US dollars and 7.2% in local currency compared to the same period last year and matched analysts’ expectations.
Net income attributable to Accenture was $1.13 billion compared to $1.03 billion last year. Diluted EPS rose 10% year-over-year to $1.74, beating forecasts of $1.71, driven by higher revenue and operating results, a lower effective tax rate and a lower share count.
During the quarter, Consulting revenues grew 5% in US dollars and 7% in local currency to $6.19 billion year-over-year. Outsourcing revenues rose 6% in US dollars and 8% in local currency to $4.87 billion. New bookings amounted to $12.9 billion, with new bookings of $6.1 billion in Consulting and $6.8 billion in Outsourcing.
Accenture posted revenue increases both in US dollars and in local currency across all its operating groups during the quarter. By geography, revenues increased in US dollars and in local currency in North America and Growth Markets. In Europe, revenues remained flat in US dollars but grew 4% in local currency.
For the first quarter of 2020, Accenture expects revenue to come in a range of $10.9 billion to $11.2 billion, up 5-8% in local currency. For fiscal year 2020, Accenture expects revenue growth of 5-8% in local currency. Diluted EPS is expected to grow 4-7% to a range of $7.62 to $7.84.
Accenture is moving from a semi-annual to a quarterly schedule for dividend payments from fiscal 2020. The company declared its first quarterly cash dividend of $0.80 per share, payable on Nov. 15, 2019.
Days services outstanding, or DSOs, were 40 days at August 31, 2019, compared with 39 days at August 31, 2018. Total cash balance at August 31, 2019 was $6.1 billion, compared with $5.1 billion at August 31, 2018.
Listen to on-demand earnings calls and hear how management responds to analysts’ questions
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
