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Accenture plc Message Board

  • dws.redsonja Jun 27, 2011 1:50 AM Flag

    Weekly Roundup Jim Cramer 06/24/11 - 07:14 PM EDT

    Accenture (ACN:NYSE; $57.02; 1,800 shares; 3.48%; Sector: Technology): Accenture posted a very strong third-quarter earnings report on Thursday, and I remain very upbeat about its progress. Earnings rose 27% to $0.93 a share vs. $0.73 a year ago and ahead of the consensus at $0.89. Revenue grew 21% to $6.7 billion, exceeding consensus by about half a billion dollars. Four out of five of its verticals continued to add to sales momentum: Tech was up 22%, financial services rose 25%, products increased 20%, and health care was up 5%. And it expanded double digits in all geographic regions, growing share because of its successful global distribution network. Importantly, consulting revenue and bookings increased more than outsourcing, signaling that discretionary spending continues to increase. The new CEO is now two-for-two in delivering better earnings, and I believe this will continue, as guidance of 7%-10% revenue growth 2012 looks to be conservative. My target is $70.

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