Why Accenture Stock Popped a Lucky 7% on Thursday
IT consulting giant Accenture (NYSE: ACN) surged 7% through noon ET on Thursday despite missing its fiscal third-quarter 2024 earnings by a whisker.
Heading into earnings, analysts forecast Accenture would earn $3.15 per share (adjusted for one-time items) on just over $16.5 billion in sales. The company actually earned only $3.13 per share, and its sales came in short at $16.5 billion. Earnings as calculated according to generally accepted accounting principles (GAAP) were lower at $3.03 per share.
That's not to say Accenture's news was all bad. While sales missed expectations and declined 1% year over year, and GAAP earnings declined 3%, Accenture's operating profit margin climbed almost 2 full percentage points to 16%. Furthermore, its guidance suggests business is looking up.
Source Fool.com
Accenture plc A Stock
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