Accenture jumps 7% on $2bn GenAI sales in year

BENGALURU: Accenture‘s share price jumped over 7% in early trade in New York on Thursday as its AI bookings gained momentum.
“We achieved two significant milestones this quarter – with $2 billion in GenAI sales year-to-date and $500 million in revenue year-to-date – which demonstrate our early lead in this critical technology,” said CEO Julie Sweet during a quarterly earnings call.
“We achieved strong new bookings of over $21 billion, up 22% over last year, and continued to accelerate our strategy to be the reinvention partner of choice, with another 23 clients with quarterly bookings of over $100 million, bringing the total of such bookings to 92 year-to-date. All of this while investing at scale in our business with another 35 acquisitions or $5.2 billion of capital deployed year-to-date,” she said.
Accenture’s revenue dropped 1% to $16.5 billion in the May quarter compared to the year-ago period. Accenture, however, narrowed its full-year revenue guidance to 1.5-2.5% from 1-3%. Its results set the tone for Indian IT firms‘ performance in the June quarter, which will be announced in July. Accenture’s headcount increased by 7,882 employees to 750,200 in the May quarter.