Accenture's earnings show 22% profit jump, lowered guidance

Professional services firm Accenture PLC topped estimates for its first fiscal quarter of 2017 on Wednesday, although it did lower its guidance for the year.

The lower forecast was based on currency exchange headwinds, the company said in a statement. For the current fiscal year it said it now expects to earn between $5.64 and $5.87 per share, compared with previous guidance of between $5.75 and $5.98 per share.

Accenture's profits grew 22% during the quarter, with earnings per share reported at $1.58 for $1bn, compared with $1.28 per share for $818.9m in the corresponding quarter last year.

Analysts had expected $1.49 per share for the Dublin-based firm, which is listed on the New York Stock Exchange.

Strong top line growth aided the impressive showing in the quarter, with sales rising across the vast majority of its business operations. Revenue in its products business shot up by 17% in the quarter ended 30 November.

Shares in the company have risen 19% overall this year, but slipped 1.6% to $122.10 in trading before the bell on Wall Street.

"With the differentiated, high-value capabilities we are building, we remain confident in our ability to continue driving profitable growth, gaining market share and delivering value for our clients and shareholders," the company said in a statement.