Accenture (ACN) Posts Q1 GAAP EPS of $1.28; Updates FY16 Revenue Growth Outlook

(Updated - December 17, 2015 7:27 AM EST)

Accenture (NYSE: ACN) reported Q1 EPS of $1.28, which may not compare with the analyst estimate of $1.32. Revenue for the quarter came in at $8 billion versus the consensus estimate of $7.93 billion.

NOTE: Q1'16 EPS includes a $0.07 per share impact from a higher tax rate of 29% in the quarter.

New Bookings

New bookings for the first quarter were $7.7 billion and reflect a negative 8 percent foreign-currency impact compared with new bookings in the first quarter last year.

• Consulting new bookings were $4.4 billion, or 57 percent of total new bookings.
• Outsourcing new bookings were $3.3 billion, or 43 percent of total new bookings.

GUIDANCE:

Accenture sees Q2 2016 revenue of $7.50-7.75 billion, versus the consensus of $7.74 billion.

Accenture’s business outlook for the full 2016 fiscal year now assumes a foreign-exchange impact of negative 5 percent compared with fiscal 2015; the previous foreign-exchange assumption was negative 4 percent.

For fiscal 2016, the company now expects net revenue growth to be in the range of 6 percent to 9 percent in local currency, compared with 5 percent to 8 percent previously. The company continues to expect diluted EPS to be in the range of $5.09 to $5.24.

For earnings history and earnings-related data on Accenture (ACN) click here.

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