The professional services company revenues for the quarter increased by 21% YoY


Accenture reported Q3 FY21 revenues of $13.26bn. (Credit: Ssu/Wikimedia Commons)

Accenture has reported a net income of $1.57bn for the third quarter ended 31 May 2021, a 25% increase compared to $1.25bn in the same quarter of fiscal 2020.

The global professional services company’s basic earnings per share for the reported quarter were $2.44, which is 26% more than the basic earnings per share of $1.93 in Q3 FY20.

Accenture reported revenues of $13.26bn in Q3 FY21, an increase of 21% compared to $11bn for Q3 FY20.

At the time of announcing the previous quarter results, the company had projected the revenues of the third quarter at $12.55bn-$12.95bn.

For the fourth quarter of fiscal 2021, Accenture anticipates revenues in the $13.1bn-$13.5bn range.

Accenture’s consulting revenues for the quarter that ended 31 May 2021 were $7.26bn, a 21% increase from $5.99bn reported in Q3 FY20.

The company’s outsourcing revenues were up by 20% year-over-year (YoY) for Q3 FY21 to $6bn from the Q3 FY20 revenue of $5bn.

Accenture’s communications, media, and technology unit had a 23% increase YoY in its revenues for Q3 2021 to $2.7bn. The company’s financial services unit saw its revenues move up by 21% YoY in Q3 FY21 to $2.59bn.

Its health and public service division reported $2.51bn in Q3 FY21 revenues, which is a 25% increase YoY.

The company’s products business earned $3.67bn revenues for the reported quarter, an increase of 22% YoY. On the other hand, the resources unit contributed $1.76bn revenues for Q3 FY21, which is an 8% increase YoY.

Accenture CEO Julie Sweet said: “Our outstanding financial results reflect our continued momentum driven by the demand for digital transformation, the depth and breadth of our client relationships with the world’s leading companies, our talented people and the strength of our business across geographic markets, industries and services.

“We are particularly pleased with our ability to continue to invest significantly in our business and our people. This includes acquisitions of 39 innovative companies that we have announced for the fiscal year to date, bringing us scale and new or expanded capabilities.”