Shares of Dublin-based technology services company Accenture (ACN) - Get Accenture Plc Class A Report were falling more than 2% Thursday despite reporting stronger-than-expected third-quarter top- and bottom-line results.
Accenture reported a third-quarter revenue increase of 4% to $11.1 billion, with earnings of $1.93 cents per share. Analysts were expecting the company to report revenue of $11 billion and earnings of $1.87 per share.
"The strength and consistency of our performance reflect the unique diversity of Accenture's business - from an industry, geographic and capability standpoint - as well as the continued successful execution of our growth strategy. Our substantial investments in strategic, high growth areas are clearly differentiating us and driving growth ahead of the market. We remain confident in our ability to continue delivering profitable growth and significant value for our clients and shareholders," said interim CEO David Rowland.
The company did report a decline in its European business, the company's second-largest client region after the U.S., taking in $3.77 billion this quarter after generating revenue of $3.88 billion in the year-ago period.
The company also updated its full-year outlook, raising the range for its full-year revenue growth to between 8% and 9% while lifting its earnings outlook to between $7.28 and $7.35 per share.
Accenture was down 2.4% to $178.87.