Accenture beats quarterly revenue estimate
Accenture has surpassed revenue forecasts for the first quarter. Strong demand for its artificial intelligence IT services fueled this growth. The company's AI strategy is showing positive results. Enterprises are increasingly adopting AI for cos...
By Reuters |
Reuters
Accenture beat Wall Street expectations for first-quarter revenue on Thursday, driven by robust demand for its artificial intelligence-driven IT services, sending its shares up 2% in premarket trading.
The results indicate Accenture's AI strategy is gaining traction, as enterprises accelerate efforts to embed the technology into workflows to cut costs and boost productivity.
But the company continues to face uneven demand from public sector and government clients amid a federal push to lower costs and refocus funds.
Accenture said new bookings for the first quarter rose 10% in local currency to $20.94 billion.
The company reported revenue of $18.74 billion, compared with analysts' average estimate of $18.52 billion, according to data compiled by LSEG.
The results indicate Accenture's AI strategy is gaining traction, as enterprises accelerate efforts to embed the technology into workflows to cut costs and boost productivity.
But the company continues to face uneven demand from public sector and government clients amid a federal push to lower costs and refocus funds.
Accenture said new bookings for the first quarter rose 10% in local currency to $20.94 billion.
The company reported revenue of $18.74 billion, compared with analysts' average estimate of $18.52 billion, according to data compiled by LSEG.
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