Accenture beats by $0.12, beats on revs; guides Q2 revs above consensus; raises FY18 outlook (151.75)
- Reports Q1 (Nov) earnings of $1.79 per share, $0.12 better than the Capital IQ Consensus of $1.67; revenues rose 11.8% year/year to $9.52 bln vs the $9.25 bln Capital IQ Consensus.
- New bookings for the first quarter were $10.0 billion and reflect a positive 1 percent foreign-currency impact compared with new bookings in the first quarter last year.
- Co issues upside guidance for Q2, sees Q2 revs of $9.15-9.4 bln vs. $9.13 bln Capital IQ Consensus Estimate.
- Co raises guidance for FY18, sees EPS of $6.48-6.66 (Prior $6.36-6.60) vs. $6.56 Capital IQ Consensus Estimate, sees net revenues +6-8% in local currency (Prior +5-8%); Accenture's business outlook for the full 2018 fiscal year now assumes that the foreign-exchange impact on its results in U.S. dollars will be positive 2.5 percent compared with fiscal 2017; the previous foreign-exchange assumption was positive 3 percent.
- For fiscal 2018, the company continues to expect operating cash flow to be in the range of $5.0 billion to $5.3 billion; property and equipment additions to be $600 million; and free cash flow to be in the range of $4.4 billion to $4.7 billion.