Reuters: Global Markets: Accenture profit handily beats estimates

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Accenture profit handily beats estimates Mar 22nd 2012, 20:25 Thu Mar 22, 2012 4:25pm EDT (Reuters) - Accenture Plc's (ACN.N) quarterly profit beat Wall Street expectations for the eighth straight quarter, and the technology outsourcing and consultancy company raised its full-year profit outlook. For the full year, the company now expects a profit between $3.82 and $3.90 per share. It had previously forecast a profit of $3.76 to $3.84 a share. It also raised its revenue growth forecast to between 10 percent and 12 percent from 7 percent to 10 percent, in local currency. The company also expects new bookings -- a key indicator of future sales -- for 2012 to be in the upper half of its previously forecast range of $28 billion to $31 billion, it said in a statement. "We think decision-making delays at the outset of 2012 have been fairly limited. We continue to believe ACN is executing well and taking share," Jefferies & Co wrote in a pre-earnings note. December-February net income rose to $714.2 million, or 97 cents per share, from $565.8 million, or 75 cents per share, a year ago. Revenue rose 12 percent to $6.8 billion, while new bookings totaled $7.94 billion. Analysts expected a profit of 86 cents per share on revenue of $6.64 billion. Shares of the company rose 1.5 percent to $64.70 in trading after the bell. They closed at $63.75 on Thursday on the New York Stock Exchange. The stock has risen 12 percent since December 15 when the company reported first-quarter results, and touched a life-high of $64.26 on March 21. (Reporting by Sayantani Ghosh in Bangalore; Editing by Joyjeet Das) Link this Share this Digg this Email Reprints

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