Accenture posts strong quarter results

Accenture, one of the world's largest providers of IT services, has reported its outsourcing business continues to grow strongly,...

Accenture, one of the world's largest providers of IT services, has reported its outsourcing business continues to grow strongly, with the announcement of its third quarter results.

Net revenue came in at $3.7bn (£2bn), matching the consensus expectation from analysts, and up from $3bn in 2003's third quarter.

This is the highest-ever quarterly net revenue in the company's history, said Joe Forehand, the company's chairman and chief executive officer.

"Overall we had a very strong quarter," he said, adding that the company finds itself in a strong competitive and financial position.

"These results reflect a pickup in our consulting business and continued growth in our outsourcing business," he said. "We've been working extremely hard in the past several years to transform our business and get in shape to emerge from the economic downturn even stronger, and our efforts have begun to pay off."

Total revenue reached $4bn, compared with $3.4bn from last year's third quarter.

Net income was $210.4m also matching analysts' consensus expectation, and up from $132.1m in 2003's third quarter.

Net revenue broke down into $2.3bn from consulting, which is the company's core business, and $1.4bn from outsourcing, a segment Accenture is expanding into.

For the fourth quarter, Accenture expects net revenue in the range of $3.4bn and $3.5bn and for the full year, it expects net revenue to grow between 15% and 16%.

Juan Carlos Perez writes for IDG News Service

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