Accenture Exceeds 1st Quarter Expectations

Accenture Ltd., the world's largest consulting firm, formerly a part of Big Five firm Arthur Andersen, has announced that the firm will exceed analysts' expectations with operating results for the first quarter which ended November 30.

With reports of earnings in the 24 to 25 cents per share range and net profits expected to be 6.8% over Credit Suisse First Boston's forecasts, Accenture's stock rose to a 52-week high of $27.81 last week.

"Our strong performance demonstrates our ongoing ability to provide clients with the services and solutions they require, especially in challenging times like these," said Accenture's CEO, Joe Forehand, referring to the worldwide economic slump and the September 11 terrorist attacks.

Accenture's European operation led the firms' growth for the quarter, particular in the public sector areas of government and health care, and the firms' overall performance has been nurtured by its outsourcing services.

Responding to a decline in the consulting industry as a whole, Accenture cut its workforce this year by 2,300 people.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.