Accenture Profit Rises, Aided by Dollar
Enviado: 15/7/2003 11:48Reuters
Accenture Profit Rises, Aided by Dollar
Tuesday July 15, 6:29 am ET
NEW YORK (Reuters) - Accenture Ltd. (NYSEACNNews), one of the world's largest consulting firms, on Tuesday said quarterly earnings rose as cost-cutting and a weak U.S. dollar offset slack spending by customers on new technology projects.
For the fiscal third quarter ended May 31, the Bermuda-based company said net income rose 15 percent to $132.1 million, or 28 cents per share, from $114.5 million, or 27 cents per share, a year earlier.
In April, the company had estimated third-quarter earnings of 24 to 26 cents per share. Forecasts by 11 analysts surveyed by Reuters Research, a unit of Reuters Group Plc, ranged from 23 cents to 26 cents, with a mean of 25 cents per share.
Net revenues, before client reimbursements for travel and other expenses, rose to $3.04 billion from $2.98 billion in the third quarter of 2002.
Revenues gained 2 percent over the year-earlier third quarter. This put sales at the top end of a range the company had forecast in April, aided by a boost from the effect of translating overseas sales into U.S. dollars for reporting purposes. Without the currency boost, revenue would have fallen 5 percent if revenue were reported in local currency terms.
Accenture Profit Rises, Aided by Dollar
Tuesday July 15, 6:29 am ET
NEW YORK (Reuters) - Accenture Ltd. (NYSEACNNews), one of the world's largest consulting firms, on Tuesday said quarterly earnings rose as cost-cutting and a weak U.S. dollar offset slack spending by customers on new technology projects.
For the fiscal third quarter ended May 31, the Bermuda-based company said net income rose 15 percent to $132.1 million, or 28 cents per share, from $114.5 million, or 27 cents per share, a year earlier.
In April, the company had estimated third-quarter earnings of 24 to 26 cents per share. Forecasts by 11 analysts surveyed by Reuters Research, a unit of Reuters Group Plc, ranged from 23 cents to 26 cents, with a mean of 25 cents per share.
Net revenues, before client reimbursements for travel and other expenses, rose to $3.04 billion from $2.98 billion in the third quarter of 2002.
Revenues gained 2 percent over the year-earlier third quarter. This put sales at the top end of a range the company had forecast in April, aided by a boost from the effect of translating overseas sales into U.S. dollars for reporting purposes. Without the currency boost, revenue would have fallen 5 percent if revenue were reported in local currency terms.