Accenture had some good news for investors worried about a slowing economy, as the company posted better than expected results late Monday.
Accenture’s February quarter sales rose 16% to $4.75 billion, beating $4.69 billion forecasts, and earnings of 47 cents a share were a nickel ahead of estimates. The company also raised current quarter guidance to $4.9-$5.1 billion, better than the $4.87 billion Wall Street analysts expected.
“Our solid bookings, which include record consulting bookings, reflect the continued demand for our services,” CEO William Green said in a statement.
Accenture shares gained 2% in after-hours trading.
Stocks fell during Monday’s trading session on continued worries about the housing sector.
Electronic Clearinghouse fell on news of a federal investigation and the end of its merger agreement with Intuit
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Aruba Networks jumped in its debut.
Cimatron soared on expansion plans.
The Nasdaq lost 18 to 2437, the S&P 500 fell 9 to 1428, and the Dow lost 72 to 12,397. Volume declined to 2.64 billion shares on the NYSE, and 1.79 billion on the Nasdaq. Declining issues led by a 22-9 margin on the NYSE, and 20-10 on the Nasdaq. Downside volume was 72% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 129-21 on the NYSE, and 92-57 on the Nasdaq.