Summary
Accenture plc reported solid financial performance for the first quarter of fiscal year 2021, ending November 30, 2020. Revenues increased by 4% year-over-year to $11.76 billion, driven by a 2% increase in local currency. This growth, while slower than the previous year, showed improvement from the latter half of fiscal 2020, indicating resilience amidst the ongoing COVID-19 pandemic. The company's outsourcing segment demonstrated robust growth, while its consulting segment experienced a slight decline. Net income attributable to Accenture plc rose to $1.50 billion, resulting in diluted earnings per share of $2.32, up from $2.09 in the prior year period. The company also maintained a strong liquidity position, with cash and cash equivalents of $8.6 billion. Accenture continued its capital return strategy, with significant share repurchases and dividend payments. Despite ongoing economic uncertainties and the impact of the pandemic, Accenture's diversified service offerings and global reach appear to be supporting its performance.
Financial Highlights
53 data points| Revenue | $11.76B |
| Cost of Revenue | $7.86B |
| Gross Profit | $3.90B |
| Operating Expenses | $9.87B |
| Operating Income | $1.89B |
| Interest Expense | $8.85M |
| Net Income | $1.50B |
| EPS (Basic) | $2.37 |
| EPS (Diluted) | $2.32 |
| Shares Outstanding (Basic) | 634.27M |
| Shares Outstanding (Diluted) | 646.88M |
Key Highlights
- 1Revenues grew 4% year-over-year to $11.76 billion, with 2% growth in local currency, showing sequential improvement.
- 2Net income attributable to Accenture plc increased to $1.50 billion, leading to a diluted EPS of $2.32, up from $2.09 in the prior year.
- 3Outsourcing revenue saw strong growth (9% in USD, 8% in local currency), while consulting revenue experienced a slight decline (-1% in USD, -2% in local currency).
- 4Operating income increased by 7% to $1.89 billion, with operating margin improving to 16.1% from 15.6% in the prior year.
- 5The company maintained a strong balance sheet with $8.6 billion in cash and cash equivalents as of November 30, 2020.
- 6Accenture returned significant capital to shareholders through $558 million in cash dividends paid and $768 million in share repurchases during the quarter.
- 7Goodwill increased by approximately $395 million to $8.13 billion, primarily due to acquisitions.