Friday, March 27, 2009

Accenture Drops In After-Hours Following Q2 Release

Accenture Ltd. is plummeting during Thursday's after-hours trading following the release of quarterly results. At 4:53 pm ET the stock is trading at $29.46 down $2.50 from Thursday's close.

With the decline, the stock is indicated to open at its lowest level in about two weeks.

The company posted second quarter net income of $498.77 million, or $0.63 per share, compared to $530.40 million, or $0.64 per share, in the same period last year.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share.

Quarterly revenues decreased to $5.65 million from $6.05 million in the previous year period. Revenues before reimbursements for the second quarter were $5.27 billion, compared to $5.61 billion in the second quarter last year.

Eighteen Wall Street analysts expected revenues of $5.53 billion.

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