Accenture Reports Strong Second-Quarter Fiscal 2017 Results
-- Revenues increase 5% in U.S. dollars and 6% in local currency to $8.3 billion --
-- EPS are $1.33; operating income increases 5% to $1.14 billion,
with operating margin of 13.7% --
-- New bookings are $9.2 billion, with consulting bookings of $4.6 billion
and outsourcing bookings of $4.6 billion --
-- Company declares semi-annual cash dividend of $1.21 per share,
a 10% increase over the prior year --
-- Accenture updates business outlook for fiscal 2017, including narrowing its range for full-year
revenue growth to 6-8% in local currency, compared with 5-8% previously --
NEW YORK; Mar. 23, 2017 — Accenture (NYSE: ACN) reported financial results for the second quarter of fiscal 2017, ended Feb. 28, 2017, with net revenues of $8.3 billion, an increase of 5 percent in U.S. dollars and 6 percent in local currency over the same period last year.
Diluted earnings per share were $1.33, compared with $2.08 for the second quarter last year, which included a $0.74 gain on the sale of Navitaire. Excluding this gain, diluted EPS for the second quarter last year were $1.34. For the first half of fiscal 2017, diluted EPS were $2.91, a 13 percent decrease from $3.36 for the same period last year. On an adjusted basis, excluding the impact of the Navitaire gain in fiscal 2016, diluted EPS for the first half of fiscal 2017 increased 11 percent.
Operating income for the quarter was $1.14 billion, an increase of 5 percent over the same period last year, and operating margin was 13.7 percent. For the first half of fiscal 2017, operating income grew 7 percent to $2.47 billion, or 14.7 percent of net revenues – an expansion of 20 basis points from the same period last year.
New bookings for the quarter were $9.2 billion, with consulting bookings of $4.6 billion and outsourcing bookings of $4.6 billion.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our financial results for the second quarter and first half of fiscal 2017. For the quarter, we delivered 6 percent revenue growth in local currency – which again was broad-based across the business – and we generated strong new bookings that position us well for the second half of the year. I am particularly pleased that we continue to make substantial investments in our business while returning more than $2 billion in cash to our shareholders year to date.
“Our strong performance reflects our continued rotation to new, high-growth areas such as digital, cloud and security services – which now account for more than 45 percent of total revenues – as well as our increasingly innovation-led approach to creating cutting-edge solutions for clients. With our highly differentiated capabilities and disciplined management of the business, we are confident in our ability to continue driving sustainable, profitable growth and delivering value for our clients and shareholders.”
The following information was filed by Accenture Holdings Plc (AHP) on Thursday, March 23, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.