Accenture reported 1Q08 net revenues of $5.7b. Accenture expects 2Q08 revenue to be $5.5-5.7b and FY08 EPS to be $2.36-2.41.
Accenture exceeded analyst expectations when it raised its fiscal 2008 earnings per share (EPS) to a range of $2.36-$2.41 and its net revenue growth to 9%-12%. Revenues for Q2 of 2008 are expected at $5.50 billion to $5.70 billion. Analysts on average expected ACN to report EPS of $2.26 for fiscal 2008 and revenues of $5.28 billion for the second quarter of 2008. These figures resulted from outstanding performance from ACN's Products, Resources and Communications & High Tech operating groups. New bookings were strong for the firm totaling $5.9B. While the stock responded strongly on the day, it fell in the following week along with the market on fears of recession due to the credit crunch.
Accenture Ltd. announced the awarding of a new contract to continue working with the City of New York to develop and operate the 311 Customer Service Center. Accenture will provide services including production support and application development for the next five years with the possibility of a two year extension.
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