Mt. Vernon Register-News

Community News Network

December 19, 2013

Technology consulting profits beat estimates as big data fuels demand

NEW YORK — Accenture, the second-largest technology-consulting company, reported quarterly profit that topped estimates as demand for its expertise resurfaced in the U.S. and Europe.

Fiscal first-quarter earnings were $1.15 a share, topping the $1.09 average estimate of analysts surveyed by Bloomberg. Net sales rose 2 percent to $7.4 billion, the Dublin-based company said Thursday.

Bookings for consulting rose as customers ramped up investing in projects, with Europe recovering from its debt crisis and the U.S. Congress resolving its budget negotiations. Clients are seeking help on using newer technology like cloud computing and big-data analysis.

"Cloud, social, mobile and analytics -- those are all really important changes going on in the technology landscape," David Grossman, an analyst at Stifel Nicolaus & Co., said in an interview from San Francisco before the earnings release. "Initially, their customers can't implement newer technology without outside help because they don't have the talent or the knowledge base. That's usually good for Accenture."

Accenture raised its profit forecast for 2014 to $4.44 to $4.56 a share, up from the range of $4.42 to $4.54 a share the company gave in September, according to a statement Thursday. The forecast was adjusted to reflect foreign-exchange fluctuations. Analysts surveyed by Bloomberg predict earnings of $4.47 on average.

First-quarter net income attributable to Accenture rose to $751.8 million compared with $698.8 million a year earlier. Earnings per share, which are calculated using a different figure for net income, rose to $1.15 from $1.06.

Contract bookings rose 16 percent from a year earlier, according to data from Bloomberg Industries. Consulting, the company's biggest unit, recorded $4.3 billion in new business in the quarter, while outsourcing orders were $4.4 billion.

Accenture is considered a bellwether for the information- technology market because its earnings cycle ends one month sooner than competitors.

International Business Machines Corp., the largest technology-services provider, is scheduled to announce earnings Jan. 21. Cognizant Technologies Solutions Corp., one of the largest providers of outsourcing services, normally reports quarterly results in February.

 

1
Text Only
Community News Network
  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • Screen Shot 2014-07-22 at 2.00.42 PM.png VIDEO: Train collides with semi truck carrying lighter fluid

    A truck driver from Washington is fortunate to be alive after driving his semi onto a set of tracks near Somerset, Ky., and being struck by a locomotive, which ignited his load of charcoal lighter fluid.

    July 22, 2014 1 Photo

  • mama.jpg What we get wrong about millennials living at home

    If the media is to be believed, America is facing a major crisis. "Kids," some age 25, 26, or even 30 years old, are living out of their childhood bedrooms and basements at alarmingly high numbers. The hand-wringing overlooks one problem: It's all overblown.

    July 22, 2014 1 Photo

  • Malaysians wonder 'Why us?' after second loss of airline jet

    It was all too familiar. Grieving families rushing to airport. The flashing television graphics of a plane's last radar appearance. The uncomfortable officials before a heavy thicket of microphones.
    For many Malaysians, the disappearance of Flight 370 in March has been a long trauma from which the nation has not yet recovered.

    July 18, 2014

  • The terrible history of passenger planes getting shot out of the sky

    What is more clear is that, if initial reports are true, this would be the deadliest incident of a civilian passenger plane being shot down in modern memory. In some instances, the causes of the disaster are still shrouded in mystery. Here are some of the worst events.

    July 17, 2014

  • 130408_NT_BEA_good kids We're raising a generation of timid kids

    A week ago, a woman was charged with leaving her child in the car while she went into a store. Her 11-year-old child. This week, a woman was arrested for allowing her 9-year-old daughter to go to the park alone. Which raises just one question: America, what the heck is wrong with you?

    July 17, 2014 1 Photo

  • Screen Shot 2014-07-16 at 2.12.33 PM.png Gunshots narrowly miss TV reporter

    A reporter for a West Virginia television station narrowly escaped injury or worse Monday while covering a fatal weekend shooting in Beckley.

    July 16, 2014 1 Photo

  • 25 hidden secrets in "Weird Al's" "Word Crimes" video

    Yankovic's 14th album was released this week, and it warms my heart containers that he's kept up his geeky brand of humor for so long. While he has written so many incredible songs, none have spoken to my love of proper grammar.
    Until "Word Crimes."

    July 16, 2014

  • State lawmakers tweak gun regulations

    Obtaining a concealed carry weapons license within the Commonwealth of Kentucky is not a simple task.

    July 16, 2014

  • When your doctor commits suicide, things get complicated

    When they call for appointments, patients are told they can't see their doctor. Ever. The standard line: "We are sorry, but your doctor died suddenly."

    July 15, 2014

Twitter Updates
Facebook
Stocks