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Accenture Net Income Falls Despite Jump in Bookings

By Don Nico Forbes


Accenture PLC reported a fall in net income for the fiscal third quarter, but noted a jump in new bookings including more than $900 million in bookings from generative AI.

The professional services company said Thursday that net income for the quarter was $1.98 billion, compared with $2.05 billion for the third quarter of fiscal 2023.

Diluted earnings per share were $3.04, down 3%.

Revenue came in at $16.5 billion, down 1% in dollars but an increase of 1.4% in local currency.

Meanwhile, operating income for the quarter increased 12% to $2.63 billion.

New bookings were $21.1 billion, an increase of 22% in U.S. dollars and 26% in local currency.

"We also achieved two significant milestones this quarter--with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date," said Chief Executive Julie Sweet.

The company declared a cash dividend of $1.29 per share for the quarter, an increase of 15%.

Looking ahead, Accenture said fiscal 2024 will face a foreign-exchange hit to results in dollars of 0.7%. The company previously expected the effect to be flat.

It now expects diluted EPS to be in the range of $11.29 to $11.44, compared with $11.41 to $11.64 previously.

However, revenue growth is seen in a range of 1.5% to 2.5% in local currency, compared with 1% to 3% previously.


Write to Don Nico Forbes at


(END) Dow Jones Newswires

June 20, 2024 07:43 ET (11:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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