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Accenture raises EPS, growth outlook as fiscal Q1 profit beats estimates

Accenture PLC lifted its fiscal 2020 EPS and revenue growth guidance as its first-quarter earnings surpassed analyst expectations.

Net income for the quarter ended Nov. 30 came in at $1.36 billion, or $2.09 per share, up from $1.28 billion, or $1.96 per share, in the prior-year period.

The fiscal first-quarter S&P Global Market Intelligence consensus estimate for EPS was $1.99.

Revenue rose year over year to $11.36 billion from $10.61 billion.

The consulting, technology and outsourcing service provider booked operating income of $1.77 billion in the quarter, compared with $1.63 billion in the prior-year period.

During the quarter, the company repurchased 3.8 million shares for $729 million, including about 3.3 million shares repurchased in the open market.

The company now expects revenue to grow in the range of 6% to 8% in local currency in fiscal 2020, compared with 5% to 8% previously expected. In addition, Accenture expects EPS in the range of $7.66 to $7.84, up from its previous guidance of $7.62 to $7.84.

Following its announcement to move from a semiannual to a quarterly schedule for dividend payments in fiscal 2020, Accenture declared a quarterly cash dividend of 80 cents per share to shareholders of record as of Jan. 16, 2020. The dividend will be paid Feb. 14, 2020.