Accenture Trading Up 5% on Q3 Results

Accenture

released its fiscal third-quarter earnings results after the closing bell on Thursday. In the wake of strong results, ACN shares are trading nearly 5% higher during Friday's session. At last check, the stock had jumped 4.57% to $59.19. The company reported net income of $689.22 million or $1.03 per share, versus $628.01 million or $0.93 per share, in last year's corresponding quarter. This came in ahead of analysts' consensus EPS estimates of $0.99. Revenues before reimbursements were $7.15 billion compared to $6.72 billion in the year ago period. Net revenues were $7.64 billion versus $7.20 billion last year. This compared to Wall Street analysts' consensus revenue estimates of $7.16 billion. Looking ahead, Accenture sees fourth-quarter revenue of $6.60 billion to $6.85 billion. This compares to analysts' current revenue projections of $6.98 billion in the fourth-quarter. For fiscal 2012, Accenture now sees earnings per share between $3.80 to $3.84. Previously, the company had guided for EPS to be between $3.82 to $3.90 for fiscal 2012. Wall Street analysts currently expect Accenture to report EPS of $3.87 on revenues of $28.03 billion in fiscal 2012.