Shares of Accenture plc (ACN) are gaining over 6% on Thursday morning after reporting its third-quarter results and revising outlook.
ACN is currently trading at $303.09, up $17.74 or 6.22%, on the NYSE. The stock opened its trading at $285.31 after closing Tuesday at $285.35. The stock has traded between $278.69 and $387.51 in the past 52-week period.
Revenues for the third quarter were $16.47 billion, compared with $16.56 billion last year. Net income was $1.93 billion or $3.04 per share, compared to $2.01 billion or $3.15 per share last year. Adjusted EPS were $3.13, a decrease of 2% from $3.19 for the third quarter of fiscal 2023.
Analysts expected earnings of $3.15 per share and revenues of $16.53 billion.
Looking forward to the fourth quarter, Accenture expects revenues of $16.05 billion to $16.65 billion.
For fiscal 2024, the company now expects revenue growth to be in the range of 1.5% to 2.5% in local currency, compared to 1% to 3% previously.
The company now expects earnings per share to be in the range of $11.29 to $11.44, compared to $11.41 to $11.64 previously; and adjusted EPS to be in the range of $11.85 to $12.00, compared to $11.97 to $12.20 previously, an increase of 2% to 3% over fiscal 2023.
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