Accenture Beats On Q3 Earnings, Issues Robust Q4 Guidance - Accenture (NYSE:ACN)

Accenture PLC ACN reported third-quarter FY21 revenue growth of 21% year-on-year to $13.3 billion beating the analyst consensus of $12.80 billion. Revenues were $300 million above the top end of the company's guidance between $12.55 billion - $12.95 billion.
New bookings increased 39% Y/Y to $15.4 billion.
Consulting revenues rose 21% Y/Y to $7.26 billion, and Outsourcing revenues increased 20% Y/Y to $6 billion.
North American market revenue grew 18% Y/Y to $6.2 billion; European market increased 25% Y/Y to $4.45 billion, and Growth Markets Revenue rose 20% Y/Y to $2.61 billion.
Communications, Media & Technology segment revenue rose 23% Y/Y to $2.7 billion; Financial Services unit revenue increased 21% Y/Y to $2.6 billion, and Health & Public Service division revenue expanded 25% Y/Y to $2.52 billion.
Products segment revenue rose 22% Y/Y to $3.67 billion, while the Resources unit revenue increased 8% Y/Y to $1.77 billion.
The gross margin expanded 110 basis points to 33.2%.
The operating margin expanded 40 basis points to 16%.
Net income grew 25% Y/Y to $1.57 billion, translating to EPS of $2.40, growing 26% Y/Y, beating the analyst consensus of $2.23.
The company generated $2.4 billion in operating cash flow and held $10 billion in cash and equivalents.
Accenture repurchased shares worth $835 million in Q3.
Dividends: Accenture declared a quarterly dividend per share of $0.88, up 10% Y/Y from $0.80 in Q3 FY20.
Guidance: Accenture sees Q4 revenue guidance between $13.1 billion - $13.5 billion above the analyst consensus of $12.54 billion.
Price action: ACN shares traded higher by 4% at $297.12 in the premarket session on the last check Thursday.

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