Accenture Announced Better-than-Expected Q1 Results

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On Thursday, Accenture (NYSE: ACN) announced its financial results for the first quarter of fiscal 2018. With both earnings and revenue beating estimates, shares of the company increased 4% to $157.93 per share on Thursday morning.

According to the company, for the first quarter of fiscal 2018, net revenue increased around 12% to $9.52 billion, beating analysts’ estimates of $9.26 billion. Additionally, net income for for diluted earnings per share calculation was up from $1.05 billion for the same period last year to $1.17 billion for the first quarter. Earnings per share for the first quarter was $1.79, beating analysts’ estimates of $1.67 per share.

“Our outstanding results reflect the significant investments we have made to differentiate Accenture – especially in digital, cloud and security services, which account for more than half of our total revenues. Our growth strategy is clearly resonating with our clients, and we are very well-positioned to continue gaining market share, driving profitable growth and delivering value for our clients and shareholders,” Pierre Nanterme, the chairman and CEO of Accenture, said in the statement on Thursday.

The company provided guidance for the second quarter of 2018 and also guidance for the full fiscal year 2018. For the second quarter of fiscal 2018, the company expected net revenue to be between $9.15 billion and $9.40 billion. For full-year 2018, the company expected that the foreign exchange impact on its results in U.S. dollars will be positive 2.5% compared with the number for fiscal 2017. Net revenue growth was expected to be in the range of 6% to 8% in local currency, according to the statement of company on Thursday.

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