By Dean Seal
Accenture logged a drop in earnings for the fiscal fourth-quarter as new bookings fell 10%.
The professional-services company posted a profit of $1.37 billion, or $2.15 a share, for the three months ended Aug. 31, down from $1.67 billion, or $2.60 a share, in the same quarter a year ago.
Stripping out one-time items, earnings were $2.71 a share. Analysts polled by FactSet had been expecting $2.65 a share.
Revenue jumped to $15.99 billion from $15.42 billion in the year-ago period, coming in below analyst forecasts for $16.07 billion, according to FactSet.
New bookings fell to $16.6 billion from $18.4 billion a year ago, with a nearly even split of the bookings coming from consulting and managed services.
Consulting revenue overall was down 2% while managed services revenue rose 10%.
Write to Dean Seal at [email protected]
Corrections & Amplifications
This article was corrected at 10:24 a.m. ET because it misstated that managed services revenue fell 10%. Accenture reported that consulting revenue overall was down just 2% while managed services revenue rose 10%.
Accenture reported that consulting revenue overall was down just 2% while managed services revenue rose 10%. “Accenture 4Q Profit Slips as Bookings Fall 10%,” published at 7:30 a.m. ET, misstated that managed services revenue fell 10%.
Read the full article here
