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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.