Accenture plc (NYSE:ACN) reported its Q3 earnings results, with EPS coming in at $2.79, better than the Street estimate of $2.67. Quarterly revenue was $16.2 billion, beating the Street estimate of $14.97 billion. The results were highlighted by strong double-digit growth across all services and a continuation of strong booking momentum.
Guidance tightened EPS ranges towards the lower end on increased FX headwinds and this quarter’s Russian charge. Full 2022-year revenue growth guidance was raised to 25.5%-26.5% in local currency.
Following the results, analysts at RBC Capital adjusted their 2022 and 2023 revenue/EPS estimates to $61.19 billion/$10.64 and $67.13 billion/$12.10 from $61.71 billion/$10.75 and $67.97 billion/$12.20, respectively. They reduced the price target to $357 from $435, while maintaining their outperform rating.