BENGALURU: IT services firm Accenture expects revenues for the fourth quarter of fiscal 2023 to be in the range of $15.75 billion to $16.35 billion, which is below the estimates. For fiscal 2023, it expects revenue growth to be in the range of 8%-9% in local currency, compared to 8% to 10% it previously projected. This comes amid dwindling IT spending and macroeconomic challenges. Accenture on Wednesday reported $16.6 billion in revenue, an increase of 3% in US dollars for the third quarter.
GAAP operating income was $2.36 billion, as against $2.60 billion for the third quarter last year, and the operating margin was 14.2% as against 16.1% for Q3 last year. The Accenture fiscal year ends on August 31.
Julie Sweet, chair and CEO, of Accenture, said, “Our third quarter results reflect solid bookings and revenue and very strong adjusted operating margin, earnings per share and free cash flow, which demonstrates the rigor and discipline with which we run our business.” She added,
“The strength of our strategy to be our clients’ transformation partner of choice continues to resonate, with 26 clients with quarterly bookings of $100 million or more.” New bookings for third quarter of fiscal 2023 were $17.25 billion, a 2% increase in US dollars over the third quarter of fiscal 2022.