Technology consulting and outsourcing firm Accenture Plc (
) late Thursday posted better-than-expected fiscal third quarter
earnings and raised its full-year forecast, sending its shares
higher in aftermarket trading.
The Dublin, Ireland-based company reported fiscal third quarter
net income of $628 million, or 93 cents per share, compared with
$490.6 million, or 73 cents per share, in the year-ago period.
Revenue jumped 21% from last year to $6.72 billion.
On average, Wall Street analysts expected a smaller profit of 89
cents per share, on lower revenue of $6.54 billion.
Looking ahead, the company forecast fourth quarter revenue to
range from $6.4 billion to $6.6 billion, which would best analyst
expectations for $6.31 billion. For the full fiscal year 2011,
Accenture raised its earnings forecast to $3.36 to $3.40 per share,
up from a prior outlook of $3.22 to $3.30. Analysts are looking for
$3.28 per share for the year.
Accenture shares rose $1.80, or +3.2%, in premarket trading
The Bottom Line
Shares of Accenture (
) have a 1.62% dividend yield, based on last night's closing stock
price of $55.69. The stock has technical support in the $50-$51
price area. If the shares can firm up, we see overhead resistance
around the all-time high price levels of $58-$59.
Accenture Plc (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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