Accenture Shares Shoot Higher

Green and his executive team tried to stanch any concerns that the company's consulting work might suffer if the economy slows or if one of its key customer segments -- namely financial services -- takes a hit from the credit market turmoil.

Chief Operating Officer Steve Rohleder said that the problems in the subprime mortgage market have had no impact on operations.

Consulting and tech services companies like Accenture are fighting the perception that their business would take a hit if the embattled investment banks and financial services firms cut back on IT spending and consulting projects.

But Accenture executives on the call said its growing base of clients overseas has boosted the company's consulting business while reducing exposure to the slowing U.S. market.

On the conference call, Rohleder said that Europe, the Middle East and Asia contributed the most to gains in Accenture's high-tech, communications and financial services business. Together, revenue from these sectors grew 19% and accounted for 46% of total sales.

In the fourth quarter, revenue surged 48% in Asia-Pacific and 39% in Europe, the Middle East and Africa. By contrast, revenue in the America's grew by a tepid 11%.

"We got what we were looking for with currency contribution from international exposure and their multiple product lines," says Tony Trzcinka, portfolio manager for Pax World. "The world is growing faster than the U.S., and Accenture has the global scope to take advantage of that."