Heavy investment in technology services has paid off for global professional services company Accenture, with it outperforming estimates from analysts and pulling in a third-quarter revenue of $8.43bn.
As companies increasingly move into more advanced technologies, like analytics, cloud and cybersecurity, Accenture has invested in its digital business.
The company appears to be on the right track, and CEO Pierre Nanterme seems keen to stay the course, saying in a conference call: “We are even now considering the next play… I’m thinking about artificial intelligence”.
In the third quarter, ending 31 May, net income attributable to Accenture rose to $897.2m, or $1.41 per share, up on $793.7m, or $1.24m per share in the same period last year.
The company expects its full-year net revenue growth to be between 9.5pc and 10.5pc, up from previous estimates of 8-10pc.
In spite of the strong growth in the third quarter, Accenture’s share value took a 1.26pc hit – falling to $117.49 – after the company’s fourth-quarter forecasts fell short of analysts’ average estimate.
The company is anticipating fourth-quarter revenue of between $8.25bn and $8.50bn, potentially just shy of the analysts’ predicted $8.39bn.