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Accenture forecasts full-year earnings above estimatesUS-ACCENTURE-RESULTS:Accenture forecasts full-year earnings above estimates
(Reuters) - Technology outsourcing and consulting company Accenture Plc forecast full-year earnings ahead of expectations, sending its shares up 5 percent in after-market trading.
The company expects earnings of $4.22 to $4.30 per share in fiscal 2013. Analysts on average were expecting $4.15 per share, according to Thomson Reuters I/B/E/S.
Accenture targets new bookings, a key indicator of future sales, in the range of $31 billion to $34 billion in fiscal 2013. New bookings in fiscal 2012 were $32.2 billion.
The company, which competes with Cognizant Technology Solutions Corp and Infosys Ltd, said its fourth-quarter profit fell due to higher tax rates.
Net income fell to $636 million, or 88 cents per share, in the fourth quarter, from $683 million, or 91 cents per share, a year earlier.
Accenture's effective tax rate was 32.8 percent, compared with 27 percent a year earlier.
Revenue rose 2 percent to $6.83 billion.
Revenue from Europe, Middle East and Asia fell 4 percent while that from Asia Pacific rose 11 percent.
Analysts had expected earnings of 88 cents per share on revenue of $6.76 billion.
Revenue in its outsourcing business rose 10 percent to $3.1 billion and in its consulting segment fell 4 percent to $3.74 billion.
Accenture shares closed at $65.38 on the New York Stock Exchange on Thursday. They have gained about 24 percent in the last year.
(Reporting by Chandni Doulatramani in Bangalore; Editing by Don Sebastian)
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