Accenture beats by $0.05, beats on revs; guides Q2 revs below consensus; raises FY14 EPS slightly, in-line, reaffirms FY14 constant FX rev
Reports Q1 (Nov) earnings of $1.15 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.10; revenues rose 1.9% year/year to $7.36 bln vs the $7.25 bln consensus.
Consulting net revenues for the quarter were $3.94 billion, a decrease of 1% in U.S. dollars and flat in local currency compared with the first quarter of fiscal 2013. Outsourcing net revenues were $3.42 billion, an increase of 5% in U.S. dollars and 6% in local currency over the first quarter of fiscal 2013. New bookings for the first quarter were $8.7 billion and reflect a negative 2% foreign-currency impact compared with new bookings in the first quarter last year. Consulting new bookings were $4.3 billion, or 49% of total new bookings. Outsourcing new bookings were $4.4 billion, or 51% of total new bookings.
Co issues downside guidance for Q2, sees Q2 revs of $6.95-7.25 bln vs. $7.28 bln Capital IQ Consensus Estimate.
Co issues in-line guidance for FY14, raises EPS to $4.44-4.56 from $4.42-4.54 vs. $4.49 Capital IQ Consensus Estimate; sees FY14 revs +1.5-5.5% (including 50 bps FX headwind, down from 100 bps) to ~$28.99-30.13 bln vs. $29.62 bln Capital IQ Consensus.
During Q1, Accenture repurchased or redeemed 9.7 million shares for a total of $722 million, including ~8.0 million shares repurchased in the open market.
Consulting net revenues for the quarter were $3.94 billion, a decrease of 1% in U.S. dollars and flat in local currency compared with the first quarter of fiscal 2013. Outsourcing net revenues were $3.42 billion, an increase of 5% in U.S. dollars and 6% in local currency over the first quarter of fiscal 2013. New bookings for the first quarter were $8.7 billion and reflect a negative 2% foreign-currency impact compared with new bookings in the first quarter last year. Consulting new bookings were $4.3 billion, or 49% of total new bookings. Outsourcing new bookings were $4.4 billion, or 51% of total new bookings.
Co issues downside guidance for Q2, sees Q2 revs of $6.95-7.25 bln vs. $7.28 bln Capital IQ Consensus Estimate.
Co issues in-line guidance for FY14, raises EPS to $4.44-4.56 from $4.42-4.54 vs. $4.49 Capital IQ Consensus Estimate; sees FY14 revs +1.5-5.5% (including 50 bps FX headwind, down from 100 bps) to ~$28.99-30.13 bln vs. $29.62 bln Capital IQ Consensus.
During Q1, Accenture repurchased or redeemed 9.7 million shares for a total of $722 million, including ~8.0 million shares repurchased in the open market.