Accenture beats profit and sales expectations, raises dividend
Accenture PLC reported Thursday net earnings for the fiscal fourth-quarter ending Aug. 31 that rose to $1.12 billion, or $1.68 a share, from $778.6 million, or $1.15 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were $1.31, beating the FactSet consensus of $1.30. Total revenue increased to $8.97 billion from $8.36 billion, above the FactSet consensus of $8.92 billion, while sales before reimbursements grew to $8.49 billion from $7.89 billion, compared with the FactSet consensus of $8.44 billion. Looking ahead, the consulting firm expects fiscal first-quarter net revenue of $8.40 billion to $8.65 billion. The FactSet consensus for net sales of $8.58 billion. Separately, Accenture raised its semi-annual dividend by 10% to $1.21, for shareholders of record on Oct. 21. The stock, which eased 0.6% in premarket trade, has run up 12% year to date through Wednesday, while the S&P 500 has gained 6.2%.
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