Accenture: FY growth target cut after in-line quarter.
(CercleFinance.com) - Outsourcing and consulting services provider Accenture cut its full-year revenue growth target on Thursday after reporting in line results for the past quarter.
The technology company's net income fell to 692.5 million, or 1.05 dollar per share, in Q3 of fiscal 2017, from 939.8 million dollars, or 1.41 dollar per share, a year earlier.
Q3 net revenues reached 8.9 billion dollars, compared with 8.4 billion dollars in Q3 of fiscal 2016, up 5% in US dollars and up 7% in local currencies.
The group said that it gained "significant market share" over the period.
For the full fiscal year, the company now expects net revenue to increase by 6% to 7% in local currencies, compared with 6%-to-8% previously.
Accenture shares were down 2.6% in pre-market trading on Thursday.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The technology company's net income fell to 692.5 million, or 1.05 dollar per share, in Q3 of fiscal 2017, from 939.8 million dollars, or 1.41 dollar per share, a year earlier.
Q3 net revenues reached 8.9 billion dollars, compared with 8.4 billion dollars in Q3 of fiscal 2016, up 5% in US dollars and up 7% in local currencies.
The group said that it gained "significant market share" over the period.
For the full fiscal year, the company now expects net revenue to increase by 6% to 7% in local currencies, compared with 6%-to-8% previously.
Accenture shares were down 2.6% in pre-market trading on Thursday.
Copyright (c) 2017 CercleFinance.com. All rights reserved.