NEW YORK — Professional services firm Accenture reported record net revenues of $8.5 billion for the first quarter of fiscal 2017 ending Nov. 30, 2016, an increase of 6 percent in U.S. dollars and 7 percent in local currency over the same period last year.
Net income for the quarter was $1.06 billion.
North American revenues for the first quarter were $3.98 billion, up from $3.76 billion.
New bookings for the quarter were $8.3 billion, with consulting bookings of $4.9 billion and outsourcing bookings of $3.4 billion.
Shares in Accenture declined 5%, down $6.20, to close at $117.90 after revenues came in lower than estimates.
Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our strong financial results for the first quarter. We continue to make significant investments in new and high-growth areas across Accenture – especially digital, cloud and security services, which together now account for more than 40 percent of total revenues and again grew at a very strong double-digit rate in the quarter. With the differentiated, high-value capabilities we are building, we remain confident in our ability to continue driving profitable growth, gaining market share and delivering value for our clients and shareholders.”
Accenture has more than 394,000 employees in over 120 countries.