Tuesday, June 30, 2009

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Accenture Profit Beats Estimates on Demand for Outsourcing

Accenture Ltd., the world’s second- largest technology-consulting firm, reported third-quarter profit that beat analysts’ estimates as customers outsourced work to curb costs in the recession.

Net income was $444 million, or 68 cents a share, compared with $469.1 million, or 74 cents, a year earlier, Accenture said today in a statement. That exceeded the 64-cent average estimate of analysts in a Bloomberg survey. Sales fell 16 percent to $5.54 billion.

Accenture’s customers are farming out tasks such as accounting or management of software applications to reduce costs in the worst global recession since at least World War II. The outsourcing business accounts for up about 40 percent of the Hamilton, Bermuda-based company’s revenue. Analysts estimated sales of $5.29 billion for the quarter ended May 31.

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