Accenture Makes Bullish Move On Earnings, Guidance, Buyback

Accenture stock rose on Thursday after the global tech consulting and services company reported fiscal fourth-quarter earnings and revenue that edged by estimates. Accenture earnings guidance came in above views.


For the quarter ended Aug. 31, Accenture earnings were $2.20 per share on a GAAP, or generally accepted accounting principles, basis. That was up 11% from a year earlier, said the Dublin-based company. Including acquisitions, Accenture (ACN) said revenue rose 24% to $13.4 billion.

Analysts expected Accenture earnings of $2.19 a share on sales of $13.38 billion. A year earlier, Accenture earned $1.99 a share, including a 29-cent investment gain, on sales of $10.84 billion.

The consulting giant also hiked its quarterly dividend by 10% to 97 cents a share while announcing a $3 billion stock buyback.

Accenture stock rose 1.4% to near 339 in morning trading on the stock market today. That could offer a buying opportunity. Heading into the Accenture earnings report, ACN stock was trying to rebound from its first test of the 10-week line since a late June breakout.

Accenture Earnings Guidance Tops Views

For its fiscal 2022 first quarter, Accenture said it expects revenue in a range of $13.9 billion to $14.35 billion. Analysts had projected revenue of $13.55 billion.

For full-year, fiscal 2022, Accenture said it expects EPS in a range of $9.90 to $10.18. Analysts had modeled EPS of $9.87 on revenue of $55.53 billion, including acquisitions.

Accenture continues to make acquisitions to move into digital, cloud computing and cybersecurity products. It also has invested in artificial intelligence and blockchain technology.

Accenture stock holds a Relative Strength Rating of 84 out of a best-possible 99, according to IBD Stock Checkup.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech   for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.


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