Accenture 4Q Earnings Climb on Higher Bookings, AI Demand

By Dean Seal

Accenture closed out its fiscal year with higher quarterly earnings and revenue as new bookings shot up, with $1 billion of them coming from its generative artificial-technology services.

The Dublin professional-services company posted net income of $1.68 billion, or $2.66 a share, for the fiscal fourth quarter ended Aug. 31, compared with $1.37 billion, or $2.15 a share, in the same quarter last year.

Stripping out one-time items, adjusted earnings were $2.79 a share. Analysts polled by FactSet expected$2.78 a share.

Revenue rose 5% to $16.41 billion, ahead of analyst estimates for $16.37 billion, according to FactSet. Consulting revenue edged up 1% to $8.26 billion, while managed services revenue rose 5%.

New bookings were up 21% at $20.1 billion, with new bookings tied to generative AI hitting $1 billion during the quarter.

Accenture is guiding for revenue to rise 3% to 6% in the fiscal year ahead, which started Sept. 1. Earnings for fiscal 2025 are set to come in 10% to 13% higher at $12.55 to $12.91 a share, in line with current analyst projections for $12.82.

Shares rose 5.6% to $356 in pre-open trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

September 26, 2024 07:28 ET (11:28 GMT)

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