The consulting and outsourcing business is just swell. Accenture reported second quarter revenue of $4.75 billion, up 16 percent from a year ago, as the company booked record outsourcing sales.
The company's earnings per share checked in at 47 cents a share. Wall Street was expecting earnings of 42 cents a share, according to Thomson Financial. Accenture is in serious growth mode--no wonder the company is looking to add consultants. For the year, Accenture upped its 2007 earnings outlook to a range of $1.88 a share to $1.93. Wall Street's target was $1.87 a share.
Those figures are only part of the story, however. Accenture's breakdown by unit reveals where the dollars are flowing.
Simply put, financial services companies are carrying the day. Second quarter revenue for Accenture's financial services group was $1.05 billion, up 26 percent from $833 million a year ago.
Accenture's government group saw quarterly revenue of $655 million, up 10 percent from a year ago. Communications and high-tech revenue was up a modest 6 percent to $1.08 billion. Accenture's product unit had revenue of $1.16 billion, up 16 percent from a year ago, and the resources division had revenue of $787 million, up 23 percent from a year ago.
By the type of work, Accenture's consulting revenue was $2.88 billion, up 15 percent from a year ago. Outsourcing revenue was $1.92 billion, up 17 percent.