Accenture (ACN) on Thursday beat Wall Street’s targets for its fiscal first quarter but cut its earnings outlook for the full year ahead. Still, ACN stock advanced in early trading.
The management consulting and technology services firm earned $3.59 a share on sales of $17.69 billion in the quarter ended Nov. 30. Analysts polled by FactSet had expected Accenture earnings of $3.42 a share on sales of $17.15 billion. In the year-earlier period, Accenture earned $3.10 a share on sales of $16.22 billion.
For the current quarter, Accenture expects to generate revenue of $16.2 billion to $16.8 billion. The midpoint of $16.5 billion is below the consensus estimate of $16.67 billion for fiscal Q2.
Also, Accenture raised its revenue forecast for fiscal 2025 but trimmed its earnings target.
The company now expects full-year revenue to grow 4% to 7% in local currency, compared to 3% to 6% previously.
Accenture expects fiscal 2025 earnings per share of $12.43 to $12.79, compared to $12.55 to $12.91 previously, an increase of 9% to 12%. The midpoint of its current EPS guidance is $12.61, vs. the consensus estimate of $12.74.
In premarket trading on the stock market today, ACN stock rose about 6% to 368.39.
ACN stock has formed a cup-with-handle base with a buy point of 377.34, according to IBD MarketSurge charts.
Earnings report details to follow.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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