Accenture out with Results

(MENAFN- Baystreet.ca) Accenture (NYSE: ACN) saw its shares bounce higher early Thursday, only hours after reporting financial results for the third quarter of fiscal 2020.

The New York-based company revealed revenues of $11.0 billion, a decrease of 1% in U.S. dollars and an increase of 1.3% in local currency over the same period last year.

Revenue growth for the quarter was reduced approximately two percentage points by a decline in revenues from reimbursable travel costs.

Diluted earnings per share were $1.90, compared with $1.93 for the third quarter last year.

Operating income was $1.71 billion, compared with $1.72 billion for the same period last year, and operating margin was 15.6%, an expansion of 10 basis points.

New bookings for the quarter were $11.0 billion, with consulting bookings of $6.2 billion and outsourcing bookings of $4.8 billion.

Net income for the quarter was $1.25 billion, compared with $1.27 billion for the third quarter last year.

Operating cash flow for the quarter was $2.74 billion and property and equipment additions were $150 million. Free cash flow, defined as operating cash flow net of property and equipment additions, was $2.59 billion for the quarter.

For the same period last year, operating cash flow was $2.12 billion; property and equipment additions were $140 million; and free cash flow was $1.98 billion.

Said CEO Julie Sweet, 'In times of crisis, our laser focus on creating value for our clients, our ability to deliver mission-critical services for the world's leading companies, and our unwavering commitment to our people and to living our core values inside and outside Accenture make a difference.'

Shares leaped $14.43, or 7.2%, to $216.27

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