Outsourcing revenue slipped by 9% to $2.19 billion and consulting revenue dropped by 20% to $2.95 billion in Accenture’s third quarter, the technology outsourcing and consulting firm has revealed.
Unfavourable foreign-exchange rates pushed profits for third quarter down on the year-ago period, and the Bermuda-based company reported net income of $443 million against $469 million it produced 12 months earlier.
Total revenue for the quarter fell to $5.15 billion from $6.10 billion for the same quarter a year ago.
Accenture said its business continues to be affected by the continuing global economic downturn.
“As a result, all of the company’s operating groups with the exception of Public Service experienced a decline in consulting revenues in local currency compared with the third quarter last year. At the same time, all of the company’s operating groups with the exception of Financial Services grew outsourcing revenues in local currency compared with the third quarter last year, although generally at a slower rate than in prior quarters.”
The company said it is on target for new bookings in the fiscal year in the range of $23 billion to $25 billion and increased its profit forecasts.
