Accenture's second-quarter net income rose 4% year-over-year, to $123.1 billion from $118.7 billion. But earnings per share fell to 22 cents from 25 cents as the number of total shares outstanding increased. New bookings in the second quarter increased 61% to $7.65 billion.
Most of Accenture's growth is coming from its sales of outsourcing services, which are benefiting from the trend among big businesses to send back-office and routine IT work abroad to low-wage countries such as India. Accenture maintains application development centers in Bangalore and Mumbai. Revenue from outsourcing grew 54% year-over-year to $1.2 billion during the quarter. Consulting, still the firm's biggest revenue generator, grew just 1.5% to $2.03 billion.
Accenture said it expects sales during the current quarter to come in between $3.4 billion and $3.55 billion. In 2003, third-quarter sales were $3.42 billion.