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December 16, 2010

Accenture Q1 net revenue up 13% to $6.48bn

Expects net revenue to be in the range of $5.6bn to $5.8bn in Q2

By CBR Staff Writer

Technology outsourcing and consulting firm Accenture has posted net revenue of $6.48bn in the first quarter of fiscal 2011, up 13% in US dollars and 14% in local currency compared to $5.75bn for the same period last year.

Consulting net revenue increased by 14% to $3.57bn while outsourcing net revenue increased by 10% to $2.48bn, compared to the same period a year ago.

The company posted an operating income of $827m during the quarter, an increase of 11% compared to $746m to the corresponding period in fiscal 2010.

The company had new bookings of $6.31bn, with consulting bookings of $3.72bn and outsourcing bookings of $2.59bn.

For the quarter ended 30 November, 2010, the company showed an increase in net revenue in all its major divisions, except for health and public service, and other divisions.

The communications and high tech group’s net revenue was up 11% to $1,284m, financial services group, 18% to $1,301m, products group, 16% to $1,396m and resources group, 17% to $1,128m.

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Geographically, revenue from Americas increased by 18% to $2,633m while Europe, Middle East and Africa (EMEA) was up marginally by 3% to $2,634m, and the revenue from Asia Pacific region increased by 28% to $775m.

In its outlook, Accenture expects net revenue to be in a range of $5.6bn to $5.8bn in the second quarter of fiscal 2011.

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