Accenture Lifts Outlook, Nokia Signs Patent Deal with Huawei

Sarla Buch
21 Dec, 2017
New York City

Accenture reported strong quarterly results and also healthy order pipeline. Balfour Beatty sells 12.5% stake in M25 toll road operator and the infrastructure developed lifted 2017 profit forecast. Nokia signed multi-year patent license contract with Huawei.Statoil extend plans for Snorre oilfield.

[R]4:00 PM Frankfurt – Accenture reported strong quarterly results and also healthy order pipeline. Balfour Beatty sells 12.5% stake in M25 toll road operator and the infrastructure developed lifted 2017 profit forecast. Nokia signed multi-year patent license contract with Huawei. Statoil extend plans for Snorre oilfield extension.[/R]

In London trading, FTSE 100 index jumped 60.91 or 0.8% to 7,586 and in Frankfurt the DAX index edged up 10.41 to 13,079.71.

In Paris, CAC 40 index rose 7.34 to 5,360.53.

Accenture Plc jumped 3.5% to $157.11 after the Ireland-based professional services provider reported revenues in the first-quarter ending in November soared 12% from a year ago to $9.5 billion.

Net income in the quarter jumped 11.8% to $1.1 billion or $1.79 per diluted share from $1 billion or $1.58 in the same quarter last year.

Accenture said new bookings for the quarter were $10 billion, with consulting bookings of $5.9 billion and outsourcing bookings of $4 billion.

The professional services provider lifted fiscal 2018 net revenue growth forecast to the range of 6% to 8 % from the earlier estimate of 5% to 8% and diluted earnings per share in the range of $6.48 to $6.66 compared to the previous forecast of $6.36 to $6.60.

Balfour Beatty Plc rose 1.8% to 286.68 pence after the U.K.-based infrastructure developer said that it has agreed to sell 12.5% stake in Connect Plus, the M25 motorway operator of London, owned by Dalmore Capital Limited, for £103 million or $137.9 million.

Balfour Beatty said fiscal 2017 pre-tax profit and year-end net cash will be higher than the trading update released earlier this month.

Nokia Oyj gained 2.4% to €3.97 after Finland-based telecom services provider today signed a multi-year patent license agreement with China-based rival Huawei.

Nokia will disclose the patent licensing revenue in its quarterly financial reports and expects that revenue will be recognized in the fourth-quarter results of 2017.

""Huawei is one of China''s largest companies and is among the world''s leading smart-phone manufacturers and delighted to welcome them to our family of patent licensees,"" said chief legal officer Nokia Maria Varsellona.

Statoil ASA increased 1.5% to 173.30 Norwegian kroner after Norway-based oil and gas services provider extended its development plan in the North Sea for 25 years of Snorre oilfield worth about 19 billion kroner or $2.26 billion, this will increase recovery from the field by close to 200 million barrels of oil.

Statoil was awarded contracts for about 9 billion kroner in the field work of TechnipFMC Plc Subsea 7 SA, Aibel and Transocean Ltd.