Accenture: raises sales growth forecast

(CercleFinance.com) - On Thursday, Accenture has raised its 2024/2025 sales growth forecast on the back of new contract wins, particularly in AI, its current forte.


The US technology consulting group now expects annual sales to rise by 4% to 7% at constant exchange rates for the current financial year, which ends at the end of May, compared with 3% to 6% previously.

Due to currency effects, however, the company is lowering its full-year earnings per share (EPS) forecast to $12.43-12.79 from $12.55-12.91 previously.

The consultancy firm's earnings and sales exceeded expectations in Q1, which ended in late November.

Net income for the quarter came to $2.28bn, or $3.59 per share, compared with $1.97bn ($3.10) a year earlier, vs. consensus EPSe of $3.42.

Sales rose by 9% as reported (+8% at constant exchange rates) to $17.7bn, against analysts' expectations of $17.1bn.

New bookings totaled $18.7bn, up 1% on a reported basis and at constant exchange rates, of which $1.2bn was related to generative AI.

On the stockmarket, Accenture shares - which have dippednearly 1% YTD - were expected to rise by over 5% on Thursday morning on Wall Street following this publication.


Copyright (c) 2024 CercleFinance.com. All rights reserved.