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Accenture Rides Outsourcing Growth To 21% Revenue Jump
Gains in its outsourcing and consulting businesses helped Accenture achieve strong revenue growth in its fiscal third quarter.
July 7, 2004
1 Min Read
Accenture Wednesday said strong gains in its outsourcing and consulting businesses helped it achieve 21% revenue growth in its fiscal third quarter ended May 31 compared with a year ago.
The company's revenue reached $3.7 billion, while net income jumped 59% to $210.4 million.
Accenture saw the most growth during the quarter in its outsourcing business. The company's outsourcing sales increased 37% to $1.4 billion on the strength of major deals with Payless ShoeSource, Danish transportation conglomerate DSV Group, and several other large customers. Consulting revenue grew 13% to $2.3 billion. Schwab Soundview Capital Markets analyst Cindy Shaw says investments Accenture has made in new technology areas, including radio-frequency identification are paying off in customer wins. "These capabilities will drive pricing power and market share gains" for Accenture, Shaw says.
For its fourth quarter, Accenture expects revenue of $3.4 billion to $3.5 billion and earnings per share of between 26 cents and 29 cents.
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