Accenture Reports Favorable Second Quarter Earnings

Defying analysts expectations, Accenture, Ltd announced that its fiscal second quarter earnings increased tenfold compared to last quarter, but revenues trailed off slightly.

Accenture, Ltd reported net revenues of $2.83 billion, representing a three percent decline over net revenues from last year. This decline represents a nine percent decline in net revenue in local currency.

Operating income for the second quarter was $368 million, representing 13.0 percent of net revenues, compared with $388 million, or 13.3 percent of net revenues, for the second quarter last fiscal year.

Income before minority interest for the second quarter was $250 million, compared with $25 million on a GAAP basis, and $236 million excluding investment write-downs, for the same quarter last fiscal year.

"We are pleased with Accenture's solid performance in the second quarter, especially taking into account the challenging economic and geopolitical environment in which we continue to operate," said Joe W. Forehand, Accenture chairman and CEO. "We had strong contract bookings in the quarter of approximately $4.75 billion, the second-highest in our company’s history. In addition, our people around the world continue to adhere to our disciplined cost-management program and remain focused on delivering services and solutions of the highest quality to help our clients improve their business performance."

After struggling with declining demand, Accenture indicates that demand for consulting services is stabilizing, but has not yet predicted a turnaround for large consulting services.

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 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
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.