Services provider Accenture has exceeded revenue expectations and met earnings expectations in its fourth quarter, as it continued to expand its outsourcing business to offset industrywide softness in the consulting and integration market.
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Accenture posted net revenue of $3.02bin for the quarter ended 31 August, exceeding the consensus expectation of $2.99bn from analysts.
Compared with the same period last year, net revenue grew 12% in dollars and 5% in the local currencies of countries where Accenture operates, while net income more than tripled from $38.1m.
Outsourcing accounted for $1.04bn of net revenue. Industrywide, the outsourcing segment is doing much better than the consulting and integration segment, which is Accenture's core business. Accenture generated $1.87bn in consulting and integration business, flat in US dollars and down 8% in local currency when compared with the same quarter last year.
For the full 2003 financial year, revenue was $11.82bn, compared with $11.57bn in 2002. Net income came in at $498.23m, up from $244.89m.
Juan Carlos Perez writes for IDG News Service