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Accenture’s stock surges after profit and revenue beat, raised outlook

Shares of Accenture PLC surged 4.2% in premarket trade Thursday, after the business consulting services company reported fiscal second-quarter profit and revenue that beat expectations and raised its full-year outlook. Net income for the quarter to Feb. 28 rose to $1.13 billion, or $1.73 a share, from $901.1 million, or $1.37 a share, in the same period a year ago. The FactSet EPS consensus was $1.57. Revenue rose 5% to $10.45 billion, above the FactSet consensus of $10.31 billion, amid 8% growth in North America, a 1% rise in Europe and a 9% increase in growth markets. The company expects third-quarter revenue of $10.80 billion to $11.10 billion, surrounding the FactSet consensus of $11.06 billion. For fiscal 2019, the company raised its EPS outlook to $7.18 to $7.32 from $7.01 to $7.25, compared with the FactSet consensus of $7.23. The stock has rallied 18.1% year to date through Wednesday, while the Dow Jones Industrial Average has gained 9.9%.

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