Accenture raises revenue forecast for the third time

REUTERS - Accenture Plc (ACN.N) raised its full-year revenue forecast for the third time, reflecting continued strong demand for the company's consulting and outsourcing services.

The company also reported third-quarter profit and revenue above analysts' estimates, helped by growth in its North America business, sending its shares 2.3 percent higher to $99.99 in premarket trading.

Accenture raised its full-year revenue growth forecast to 9-10 percent on a local currency basis.

In March, the company said it had expected revenue to grow 8-10 percent in the year ending August. Accenture raised its revenue growth forecast to 5-8 percent in December from 4-7 percent.

The company's net revenue increased to $7.77 billion from $7.74 billion in the third quarter ended May 31, beating analysts' average expectation of $7.45 billion, according to Thomson Reuters I/B/E/S.

Revenue in the outsourcing business rose 10 percent in local currency, while consulting business revenue rose 11 percent.

The consulting business accounts for a little more than half of Accenture's total revenue, with its outsourcing unit contributing the rest.

Accenture's business in North America rose 11 percent to $3.64 billion.

New York-based Accenture's rivals include India's Infosys Ltd (INFY.NS) and Tata Consultancy Services (TCS.NS) in the outsourcing business and Hewlett-Packard Co (HPQ.N) and IBM Corp (IBM.N) in the consulting business.

The company's net income fell to $1.24 per share in the three months ended May 31, from $1.26 per share a year earlier.

Excluding items, the company earned $1.30 per share, above the average analyst estimate of $1.23 per share.

(Reporting by Abhirup Roy and Sai Sachin R in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju Samuel)