Accenture Profit Drops 87% in 2nd Quarter

Accenture Ltd. said fiscal second-quarter profit fell 87% because of costs related to exiting from venture capital investing. Sales rose as the world’s largest consulting company signed more government contracts.

Net income fell to $10.6million, or 2 cents a share, in the period ended Feb. 28 from $80.9million, or 20 cents, a year earlier. Revenue rose to $3.41billion.

Accenture shares fell $1.70, or 7%, to $22.55 on the NYSE.