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Accenture (ACN) Q3 Earnings & Revenues Top Estimates
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Accenture plc (ACN - Free Report) reported third-quarter fiscal 2021 earnings per share of $2.40 beating the Zacks Consensus Estimate of $2.23. Earnings also increased 26.3% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Accenture’s third-quarter fiscal 2021 earnings remained stable over the last 90 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 3.5%.
Revenues Better Than Expected
Accenture recorded revenues of $13.26 billion which outperformed the Zacks Consensus Estimate of $12.80 billion. Moreover, revenues compared favorably with the year-ago figure of $10.99 billion.
Key Stats to Note: Accenture has raised its guidance for fiscal year 2021. Revenues are now expected to register 10-11% growth in terms of local currency compared with the prior growth rate of 6.5-8.5%. The company expects adjusted EPS in the range of $8.71-$8.80 compared with the prior-guided range of $8.32-$8.50. The company now expects positive foreign-exchange impact of 3.5% on its results in U.S. dollars compared with the prior foreign-exchange assumption of 3%.
Operating cash flow is now anticipated in the range of $8.65-$9.15 billion compared with the prior guidance of $7.65-$8.15 billion. Free cash flow is now expected between $8.0 billion and $8.5 billion compared with the prior guidance of $7.0 billion to $7.5 billion.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
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Accenture (ACN) Q3 Earnings & Revenues Top Estimates
Accenture plc (ACN - Free Report) reported third-quarter fiscal 2021 earnings per share of $2.40 beating the Zacks Consensus Estimate of $2.23. Earnings also increased 26.3% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Accenture’s third-quarter fiscal 2021 earnings remained stable over the last 90 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 3.5%.
Revenues Better Than Expected
Accenture recorded revenues of $13.26 billion which outperformed the Zacks Consensus Estimate of $12.80 billion. Moreover, revenues compared favorably with the year-ago figure of $10.99 billion.
Key Stats to Note: Accenture has raised its guidance for fiscal year 2021. Revenues are now expected to register 10-11% growth in terms of local currency compared with the prior growth rate of 6.5-8.5%. The company expects adjusted EPS in the range of $8.71-$8.80 compared with the prior-guided range of $8.32-$8.50. The company now expects positive foreign-exchange impact of 3.5% on its results in U.S. dollars compared with the prior foreign-exchange assumption of 3%.
Operating cash flow is now anticipated in the range of $8.65-$9.15 billion compared with the prior guidance of $7.65-$8.15 billion. Free cash flow is now expected between $8.0 billion and $8.5 billion compared with the prior guidance of $7.0 billion to $7.5 billion.
Zacks Rank: Currently, Accenture has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Accenture earnings report later!
Accenture PLC Price and EPS Surprise
Accenture PLC price-eps-surprise | Accenture PLC Quote
More Stock News: This Is Bigger than the iPhone!
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Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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