Big Q2 for Accenture - InvestingChannel

Big Q2 for Accenture

Accenture plc (NYSE:ACN) saw its shares spike Thursday on word of financial results for the second quarter of fiscal 2020, ended Feb. 29.

Revenues were $11.1 billion, an increase of 7% in U.S. dollars and 8% in local currency over the same period last year.

Diluted earnings per share were $1.91, a 10% increase from the second quarter last year.

Operating income was $1.49 billion, a 7% increase over the same period last year, and operating margin was 13.4%, an expansion of 10 basis points.

New bookings for the quarter were $14.2 billion, with consulting bookings of $7.2 billion and outsourcing bookings of $7.0 billion.

CEO Julie Sweet said, “The world is now facing a global health crisis and significant disruption in the global economy. I am incredibly proud of how our leadership team and all our people have rallied to ensure the safety and well-being of each other while continuing to serve our clients at this time of great need.

“As we move forward, we will focus on helping our clients navigate and succeed in this uncertain period and continue to invest in our business and our people for the long term.”

Diluted EPS for the quarter were $1.91, compared with $1.73 for the second quarter last year. The $0.18 increase in EPS reflects: a 14-cent increase from higher revenue and operating results; and a four-cent increase from higher non-operating income.

Shares hiked $6.11, or 4%, to $157.76