Reuters: Global Markets: Accenture forecast misses Wall Street estimates, shares fall

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Accenture forecast misses Wall Street estimates, shares fall Dec 19th 2012, 21:57 Wed Dec 19, 2012 4:57pm EST (Reuters) - Accenture Plc (ACN.N) forecast current-quarter revenue largely below analysts' estimates as growth at its outsourcing business slowed for the first time in two years. The technology outsourcing and consulting company forecast second-quarter revenue of between $6.9 billion and $7.15 billion, largely below analysts' average estimate of $7.14 billion, according to Thomson Reuters I/B/E/S. Though outsourcing revenue rose 9 percent to $3.26 billion during the first quarter, analysts were expecting double-digit growth in the segment. In a pre-earnings note, Deutsche Bank analyst Bryan Keane said he expected the outsourcing business to report a ninth consecutive quarter of double-digit growth. First-quarter profit came in above expectations, but revenue from consulting fell 3 percent to $3.96 billion. Net income rose to $766 million, or $1.06 per share, in the quarter from $712 million, or 96 cents per share, a year earlier. Revenue rose 2 percent to $7.2 billion. Analysts on average had expected first-quarter earnings of $1.04 on revenue of $7.29 billion. The company's shares were down 4 percent at $67.65 in after-market trading on Wednesday. (Reporting by Neha Alawadhi in Bangalore; Editing by Sreejiraj Eluvangal) Link this Share this Digg this Email Reprints

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