Accenture revenue beats expectations as bets on digital, cloud pay off

Global services company Accenture reported better-than-expected quarterly revenue, as the consulting and outsourcing services provider benefited from its investments in fast-growing digital and cloud service businesses.

The Dublin-domiciled company’s revenue from “the New” – which includes digital, cloud and security-related services – grew about 30 per cent to $18 billion (€15.2 billion) for the year ended August 31st.

Accenture had chalked out $1.8 billion for acquisitions in digital, cloud and security-related services in the fiscal year.

The company has been increasingly grabbing market share from its rivals such as Cognizant Technology Solutions and IBM by being early movers into the digital space.

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Accenture said it expects current-quarter revenue to be $9.10 billion-$9.35 billion. Analysts on average were expecting revenue of $9.13 billion, according to Thomson Reuters.

Net income for diluted earnings per share fell to $974.2 million, or $1.48 per share, in the fourth quarter ended August 31st, from $1.12 billion, or $1.68 per share, a year earlier.

The company’s net revenue rose 7.8 per cent to $9.15 billion, beating estimates of $9.01 billion.

Accenture’s shares fell 1.3 per cent to $134.84 in premarket trading on Thursday.

– (Reuters)