Accenture Reports Strong First-Quarter Fiscal 2017 Results
-- Revenues increase 6% in U.S. dollars and 7% in local currency to $8.5 billion --
-- EPS are $1.58, a 23% increase, including $0.18 positive impact from a lower tax rate in the quarter --
-- Operating income increases 9% to $1.33 billion, with operating margin of 15.6%, an
expansion of 40 basis points --
-- New bookings are $8.3 billion, with consulting bookings of $4.9 billion
and outsourcing bookings of $3.4 billion --
-- Accenture confirms outlook for full-year revenue growth, operating margin, free cash flow and tax rate; updates EPS outlook to range of $5.64 to $5.87, reflecting revised foreign-exchange assumption of negative 2% compared to previous assumption of a flat impact --
NEW YORK; Dec. 21, 2016 — Accenture (NYSE: ACN) reported financial results for the first quarter of fiscal 2017, ended Nov. 30, 2016, with record net revenues of $8.5 billion, an increase of 6 percent in U.S. dollars and 7 percent in local currency over the same period last year.
Diluted earnings per share were $1.58, an increase of $0.30, or 23 percent from the first quarter last year. EPS for the first quarter of fiscal 2017 include an $0.18 positive impact from a lower tax rate for the quarter.
Operating income was $1.33 billion, an increase of 9 percent over the same period last year, and operating margin was 15.6 percent, a year-over-year expansion of 40 basis points.
New bookings for the quarter were $8.3 billion, with consulting bookings of $4.9 billion and outsourcing bookings of $3.4 billion.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our strong financial results for the first quarter. We delivered 7 percent revenue growth in local currency, which was broad-based across the dimensions of our business. We significantly expanded operating margin, delivered very strong earnings per share and free cash flow, and returned nearly $1.4 billion in cash to our shareholders.
“We continue to make significant investments in new and high-growth areas across Accenture –
especially digital, cloud and security services, which together now account for more than 40 percent of total revenues and again grew at a very strong double-digit rate in the quarter. With the differentiated, high-value capabilities we are building, we remain confident in our ability to continue driving profitable growth, gaining market share and delivering value for our clients and shareholders.”
Revenues before reimbursements (“net revenues”) for the first quarter of fiscal 2017 were $8.52 billion, compared with $8.01 billion for the first quarter of fiscal 2016, an increase of 6 percent in U.S. dollars and 7 percent in local currency. Net revenues for the quarter reflect a foreign-exchange impact of approximately negative 1 percent, compared with the flat impact we had previously assumed. Adjusting
The following information was filed by Accenture Holdings Plc (AHP) on Wednesday, December 21, 2016 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.