Accenture plc (ACN) posted a considerable rise in second-quarter net income attributable to the company to $1.1 billion, from $643.92 million last year, while earnings per share amounted to $1.65, an increase from $0.97 a year back. The reorganization benefit and final determinations of prior-year tax liabilities had a positive $0.65 impact on the recent period's earnings per share.
Excluding these benefits, earnings per share for the quarter were $1.00. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $0.97 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked quarterly net revenues of $7.06 billion, up 4 percent in both U.S. dollars and local currency over the prior year's $6.80 billion, while 19 analysts estimated revenues of $7.07 billion for the quarter.
Looking ahead to the third quarter of fiscal 2013, Accenture expects net revenues in the range of $7.25 billion - $7.50 billion, assuming a foreign-exchange impact of negative 2.5 percent compared with the third quarter of fiscal 2012. Nineteen analysts project third-quarter revenue of $7.6 billion.
For fiscal 2013, the company now expects net revenue growth to be in the lower half of its previously guided range of 5 percent to 8 percent in local currency. The company now sees fiscal 2013 earnings per share of $4.89 - $4.97, reflecting the $0.65 in benefits related to final determinations of prior-year tax liabilities and the reduction in reorganization liabilities in the second quarter. Excluding these benefits, the company continues to expect EPS in the range of $4.24 - $4.32. Analysts estimate earnings of $4.26 per share for the year.
Further, Accenture plc has declared a semi-annual cash dividend of $0.81 per share on its Class A ordinary shares for shareholders of record at the close of business on April 12, 2013, and Accenture SCA would declare a semi-annual cash dividend of $0.81 per share on Accenture SCA Class I common shares for shareholders of record at the close of business on April 9, 2013. These dividends are both payable on May 15, 2013.
For comments and feedback: editorial@rttnews.com