Accenture forecasts annual sales above estimates on robust consulting demand
ACN•Accenture forecast full-year revenue growth of 3% to 6%, above analysts’ average estimate of 3.9%, as consulting demand remained strong. Fourth-quarter revenue was $18.68 billion, and consulting revenue totaled $9.28 billion, both above analyst estimates.
1. Annual outlook
Accenture expects annual revenue growth between 3% and 6%, compared with analysts’ average estimate of 3.9%. Its shares rose more than 17% in premarket trading after the forecast.
2. Quarterly results
Fourth-quarter revenue was $18.68 billion, beating analysts’ average estimate of $18.03 billion. Consulting revenue totaled $9.28 billion, above analysts’ expectations of $8.86 billion, while bookings increased 4% year over year to $22.17 billion.
3. Recent share decline
Accenture shares had fallen 31% this year as of the prior close. The article says the stock had been pressured by macroeconomic uncertainty and the threat of disruption from AI.
