Accenture Q3 Profit Rises, Beating View; Forecast Could Miss (ACN)

Consulting and outsourcing firm Accenture Plc (ACN) late Thursday posted better-than-expected fiscal third quarter earnings results, but its forecast was lower than Wall Street’s view.

The Dublin, Ireland-based company reported fiscal third quarter net income of $689.22 million, or $1.03 per share, compared with $628.01 million, or 93 cents per share, in the year-ago period.

Revenue rose 6% from last year to $7.15 billion.

On average, Wall Street analysts expected a smaller profit of 99 cents per share, albeit on slightly higher revenue of $7.16 billion.

Looking ahead, ACN said it now expects full-year earnings of $3.80 to $3.84 per share, which would miss Wall Street estimates of $3.87 per share.

Accenture shares rose $1.37, or +2.4%, in aftermarket trading Thursday.

The Bottom Line
Shares of Accenture (ACN) have a 2.38% dividend yield, based on today’s closing stock price of $56.63. The stock has technical support in the $52 price area. If the shares can firm up, we see overhead resistance around the $60 price level.

Accenture Plc (ACN) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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