This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Accenture Reports Second-Quarter Fiscal 2013 Results

Stocks in this article: ACN

Accenture (NYSE: ACN) reported financial results for the second quarter of fiscal 2013, ended Feb. 28, 2013, with net revenues of $7.1 billion, an increase of 4 percent in both U.S. dollars and local currency over the same period last year and within the company’s guided range.

Diluted earnings per share were $1.65, including benefits of $243 million, or $0.34 per share, from final determinations of prior-year tax liabilities and $224 million, or $0.31 per share, from a reduction in reorganization liabilities. Excluding these benefits, diluted earnings per share were $1.00. Reorganization liabilities were established in connection with the company’s transition to a corporate structure in 2001.

Operating income for the quarter increased to $1.16 billion, including the benefit of $224 million from the reduction in reorganization liabilities. Excluding the benefit, operating income increased 6 percent, to $940 million, and operating margin expanded 20 basis points, to 13.3 percent.

New bookings for the quarter were $9.1 billion, with record consulting bookings of $4.4 billion and outsourcing bookings of $4.7 billion.

Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our second-quarter financial results, which were in line with our expectations. We saw very strong demand for our services, with $9.1 billion in new bookings, including record consulting bookings. Our revenue growth was within our guided range for the quarter, including a 10 percent local-currency increase in outsourcing. We also increased operating income and again expanded operating margin, reflecting our continued focus on driving profitable growth.

“Our strategy continues to differentiate Accenture in the marketplace, and our excellent bookings in the second quarter further demonstrate that our services are resonating with the needs of our clients. We remain confident in our ability to seize the opportunities in this fast-changing environment and to continue to deliver tangible business outcomes for our clients and value for our shareholders.”

1 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs