Before the opening bell on Thursday morning, outsourcing and business services company Accenture (ACN) released its second quarter financial results. Here’s what the results mean for mutual fund investors.
Inside ACN's Results
The company reported net income of $690.73 million, or $1.08 per share, compared to $671.30 million, or $1.03 per share, last year. On average, analysts expected to see EPS of $1.07.
Revenue rose to $7.93 billion from $7.57 billion last year. Revenue before reimbursements came in at $7.49 billion, above analysts’ view of $7.38 billion.
The company expects to see FY2015 adjusted EPS between $4.66 and $4.76. Analysts expect to see EPS of $4.75.
Higher Expected Exchange Impact
In its latest report, Accenture noted that it now expects a negative foreign-exchange impact of 8%, compared with its previous estimate of a 5% negative impact. Even with its currency concerns, Wall Street was pleased with the company’s latest results, as shares rose 6% on Thursday morning.
Mutual Funds to Watch
Investors interested in Accenture may also consider the following mutual funds as an alternative to investing directly in the stock. The funds below currently hold the largest stakes in the company.
|VTSMX||Vanguard Total Stock Market Index||1.67%|
The Bottom Line
The funds listed above allow investors to gain exposure to a wide range of holdings. Investors interested in Accenture may also be interested in IBM (IBM) and Infosys (INFY).
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