Accenture Reports Strong First-Quarter Fiscal 2018 Results
-- Revenues increase 12% in U.S. dollars and 10% in local currency to $9.5 billion --
-- EPS are $1.79, a 13% increase --
-- Operating income increases 12% to $1.49 billion, with operating margin of 15.6% --
-- New bookings are $10.0 billion, with consulting bookings of $5.9 billion
and outsourcing bookings of $4.0 billion --
-- Accenture updates business outlook for fiscal 2018, including narrowing its range for full-year revenue growth to 6-8% in local currency from 5-8% previously, and raising outlook for EPS to $6.48 to $6.66 from $6.36 to $6.60 previously; updated EPS range represents 10-13% growth over adjusted EPS for fiscal 2017 --
NEW YORK; Dec. 21, 2017 — Accenture (NYSE: ACN) reported financial results for the first quarter of fiscal 2018, ended Nov. 30, 2017, with net revenues of $9.5 billion, an increase of 12 percent in U.S. dollars and 10 percent in local currency over the same period last year.
Diluted earnings per share were $1.79, an increase of $0.21, or 13 percent from the first quarter last year.
Operating income was $1.49 billion, an increase of 12 percent over the same period last year, and operating margin was 15.6 percent, consistent with the first quarter last year.
New bookings for the quarter were $10.0 billion, with consulting bookings of $5.9 billion and outsourcing bookings of $4.0 billion.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We delivered excellent financial results for the first quarter. I am particularly pleased with our broad-based revenue growth of 10 percent in local currency – including double-digit growth in four of our five operating groups and two of our three geographic regions – as well as very strong new bookings. We also delivered 13 percent growth in earnings per share and returned $1.4 billion in cash to our shareholders.
“Our outstanding results reflect the significant investments we have made to differentiate Accenture – especially in digital, cloud and security services, which account for more than half of our total revenues. Our growth strategy is clearly resonating with our clients, and we are very well-positioned to continue gaining market share, driving profitable growth and delivering value for our clients and shareholders.”
Revenues before reimbursements (“net revenues”) for the first quarter of fiscal 2018 were $9.52 billion, compared with $8.52 billion for the first quarter of fiscal 2017, an increase of 12 percent in U.S. dollars and 10 percent in local currency, above the company’s guided range of $9.10 billion to $9.35 billion. The foreign-exchange impact for the quarter was approximately positive 2 percent, consistent with the assumption provided in the company’s fourth-quarter earnings release.
The following information was filed by Accenture Holdings Plc (AHP) on Thursday, December 21, 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.