PracticeConsulting‘Sub-prime’ not cause of lower Accenture earnings

'Sub-prime' not cause of lower Accenture earnings

No impact from sub-prime mortgage woes - it's the loss of a tax benefit

Consulting giant Accenture has reported lower quarterly earnings than a year
ago, despite announcing record quarterly and full-year revenues.

At the same time the company said US sub-prime mortgage troubles among
lenders had had no impact on the company so far.

Despite not being impacted, the company told analysts at a conference call it
would ‘continue to monitor the situation’.

The company reported net income for the fourth quarter ending 31 August 2007
fell to $316.8m (£160m), from $346.4m for the corresponding period last year.

The cause of the fall in earnings was a rise in tax expenses to $253m from
$23.7m last year, when the company enjoyed as a tax benefit.

‘Demand for our services, particularly in consulting, remains robust,’
CEO
William Green
said in a statement.

Further reading:

Accenture profits rise on strong demand

Profile: David Thomlinson, MD of Accenture

Consultants dismiss Big Four challenge

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer