Accenture hikes 2016 revenue forecast after strong Q1

Net income fell to US$858.5 million, or US$1.28 per share, in the first quarter from US$882.2 million, or US$1.29 per share a year earlier.

Accenture Plc raised its 2016 net revenue growth forecast to 6-9% from 5-8% in local currency after reporting a better-than-expected rise in quarterly revenue.

Net income fell to US$858.5 million, or US$1.28 per share, in the first quarter from US$882.2 million, or US$1.29 per share a year earlier.

Net revenue, or revenue before reimbursements, rose to US$8.01 billion from US$7.90 billion in the same quarter last year.

Analysts had forecast net income of US$1.32 per share on revenue of US$7.92 billion.

Consulting net revenue for the quarter ended 30th November was US$4.35 billion, an increase of 6% in US dollar terms and 15% in local currency terms.

The business accounts for just over half of Accenture’s revenue, while its outsourcing unit contributes the rest.

The company’s revenue from North America, which accounted for about 47% of total revenue in the quarter, rose 9% to US$3.76 billion. In local currency, the rise was 11%.