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.
