Accenture profit tops estimate 

Accenture Ltd., one of the world’s largest technology consulting companies, reported quarterly profit which exceeded analysts’ average estimates on Tuesday, as revenue surged 17 percent on strong sales of contract services to other companies.

For its fiscal second quarter ending Feb. 29, the Bermuda-based company said its net income was $123.09 million, or 22 cents a share, compared with a year-ago net of $118.72 million, or 25 cents a share. Earnings per share this quarter was reduced by more shares outstanding.

The company also said Joe W. Forehand would step down as chief executive with effect from September 1, 2004, but retain the position of chairman. It said the board of directors had identified a preferred internal candidate to succeed Forehand as CEO and expected to announce a decision by mid-April.

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Excluding a real-estate consolidation charge of 7 cents a share, profit in the quarter would have been 29 cents a share, exceeding analysts’ average estimate of 25 cents a share, according to Reuters Research, a unit of Reuters Group Plc.

Revenue before travel and other reimbursements from clients rose to $3.30 billion from $2.83 billion, helped by a weak dollar and outsourcing strength.

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Accenture, which announced its earnings two weeks earlier than it originally planned, said it is comfortable with fiscal third-quarter earnings estimate of 30 cents a share and revenue of $3.40 billion to $3.55 billion. For the fiscal year, it sees earnings of $1.13 to $1.15 a share and revenue growth of 11 percent to 14 percent.

The average analysts’ estimate for the third quarter was profit of 30 cents a share on revenue of $3.33 billion and profit of $1.11 on revenue of $12.94 billion for the year.