Reuters: Hot Stocks: UPDATE 1-Accenture cuts full-year outlook, shares down

Changes are afoot at Blogtrottr! By popular request, we're bringing in paid plans with some cool new features (and more on the way). You can read all about it in our blog post.

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Accenture cuts full-year outlook, shares down Jun 27th 2013, 21:00 Thu Jun 27, 2013 5:00pm EDT * Sees FY adj earnings/share $4.18-$4.22, down from $4.24-$4.32 earlier * Shares down 6 pct after market (Adds outlook, result details, analyst comment; updates share move) June 27 (Reuters) - Outsourcing and consulting services provider Accenture Plc cut its full-year outlook and reported third-quarter revenue below analysts' estimate as its consulting income dropped 2 percent. Accenture shares were down 6 percent at $75.30 in extended trading on Thursday. The company said it now expects adjusted earnings of $4.18 to $4.22 per share on revenue growth of 3 to 4 percent in local currency for the year ending Aug. 31. The outlook assumed a negative currency impact of 1.7 percent, up from its 1 percent expected earlier. Accenture in March had forecast adjusted annual earnings of $4.24 to $4.32 per share on revenue growth below the midpoint of the 5-8 percent range that it had previously expected. The company recorded consulting net revenue of $3.9 billion in the three months ended May 31. It had said in March that it expects the business to return to growth. Outsourcing net revenue rose 4 percent to $3.3 billion in the quarter. "Outsourcing adds resilience to the story," Josh Olson, technology analyst for Edward Jones told Reuters. Accenture's results could have been worse without the strength in outsourcing, he said. Net revenue rose 0.6 percent to $7.2 billion. Net income rose to $874.1 million, or $1.21 per share, in the third quarter, from $762.8 million, or $1.03 per share, a year earlier. Excluding items, the company earned $1.14 per share. Analysts on average had expected earnings of $1.13 per share on revenue of $7.42 billion, according to Thomson Reuters I/B/E/S. Accenture shares closed at $80.22 on the New York Stock Exchange on Thursday. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions