Accenture Posts Solid Quarter, Shares Rise

Accenture ACN reported earnings on September 30, posting a "good quarter." Citi maintains Buy on Accenture following a solid and clean set of results and guidance that was above our and consensus expectations. Accenture maintained its preliminary constant currency guidance of 7%-10% on the back of higher-than-normal visibility driven by strong Aug-10 bookings. The EPS upside relative to consensus is the difference is a lower tax rate and more favorable currency. Oppenheimer generally got what we were looking for – a more de-risked revenue estimate; a good margin improvement and a higher dividend. ACN closed Wednesday at $42.49