Accenture tops Q1 revenue estimates, ends AI revenue reporting
Accenture reported first-quarter revenue of $18.74 billion, beating analysts’ forecast of $18.52 billion, fueled by strong demand for AI-driven consulting and managed services.
New bookings rose 12% to $20.9 billion, including $9.88 billion in consulting and $11.06 billion in managed services. Advanced AI bookings reached $2.2 billion for the quarter, News.Az reports, citing foreign media.
However, the IT consulting giant said it will stop reporting standalone AI revenue, as the technology is now embedded across nearly all client work.
Chair and CEO Julie Sweet said, “We delivered revenue growth of 5% in local currency, at the top of our guided range, while continuing to gain market share. These results reflect our strategy to be the reinvention partner of choice for our clients.”
Shares declined slightly in pre-market trading despite the beat, as investors digested the shift in AI reporting metrics.
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