Article Hero

Accenture posted quarterly results that beat estimates

1598444819.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 septiembre 2020
Despite promising results, Accenture will start cutting staff

The Dublin-based management consulting firm, Accenture, started the day with both good and bad news.  

For the second quarter of 2020, the company reported a $1.25 billion net income or $1.90 per share. Analysts were looking for a loss per share of $1.85.

Accenture revenue figures came in at $10.99 billion, topping the $10.72 billion forecasted. 

For the next quarter, Accenture expects a revenue that could reach a high of $11 billion, which could range between -3% to +1%. Experts’ outlook is for $10.77 billion. 

On a yearly basis, the anticipated EPS is expected to reach a high of $7.70.  Analysts project $7.57/share. At the same time, Accenture lowered the revenue growth forecasts to a high of 4.5%, from a previous 6%.

On the other hand, the company is getting ready to cut 25,000 jobs from its total of 500,000 due to the pandemic. During challenging times, Accenture growth fell to 1.3% from an initial 8%. Now, the growth rate is set at 5%. But, despite the lack of growth, Accenture purchased 20 companies so far this year, predominately in the cybersecurity and data analytics sectors. 

Following the report, the stock price traded 5.2% higher. In the past three months, Accenture share price gained 29%. 

Read how the pandemic affected other companies on CAPEX.com!

Sources: thestreet.com, investors.com


disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel comenzó su destacada carrera profesional en reputadas instituciones financieras como el Banco Santander y el Banco Central-Hispano. Es autor de importantes libros sobre trading en el mercado de divisas.