Accenture Boosts Forecast as Q3 Earnings Beat View (ACN)

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Technology consulting and outsourcing firm Accenture Plc ( ACN ) 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 Friday.

The Bottom Line
Shares of Accenture ( ACN ) 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 ( ACN ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ACN

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