Accenture beats earnings expectations, raises dividend 10%

South Africa News News

Accenture PLC |phrase background-info='BRIEFING-BOOK' name='acn' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|acn'||/phrase| reported fiscal fourth-quarter earnings and revenue that beat expectations, provided a upbeat outlook and raised its semi-annual dividend by 10%. The stock slipped 0.5% in premarket trade. Net earnings for the quarter to Aug. 31 rose to $1.03 billion, or $1.58 a share, from $974.1 million, or $1.48 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.56. Revenue before reimbursements increased 11% to $10.15 billion, beating the FactSet consensus of $10.01 billion, as consulting revenue rose 12% and outsourcing revenue grew 9%, with both segments topping expectations. Looking ahead, the consultant expects fiscal first-quarter revenue of $10.35 billion to $10.65 billion, above the FactSet consensus of $10.18 billion. Separately, the company raised its semi-annual dividend to $1.46 a share from $1.33 a share, with the new dividend payable Nov. 15 to shareholders of record on Oct. 18. The company said it will begin paying quarterly dividends starting the first quarter of fiscal 2020. The stock has run up 13% year to date through Wednesday, while the S&P 500 |phrase background-info='BRIEFING-BOOK' name='spx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|spx'||/phrase| has gained 8.7%.