BENGALURU: IT service provider Accenture has beat Street estimates and posted USD 17.7 billion revenues in the first quarter ended November 2024. This is an increase of 9 per cent in US dollars and 8 per cent in local currency compared to the first quarter of fiscal 2024.
It expects revenues for the second quarter of fiscal 2025 to be in the range of USD 16.2 billion to USD 16.8 billion, or 5 per cent to 9 per cent growth in local currency. For fiscal 2025, the company raises revenue growth to be in the range of 4 per cent to 7 per cent in local currency, compared to 3 per cent to 6 per cent previously.
Julie Sweet, chair and CEO, Accenture, said, “Our strategy to lead reinvention for clients while continuing to invest in our business has given us a strong start to fiscal 2025."
"We delivered broad-based revenue growth across both consulting and managed services, and across each market and industry group, gaining market share," she said.
The company's November quarter new bookings were USD 18.7 billion, including 30 quarterly client bookings of more than USD 100 million.
"We continued to lead in helping our clients realize value with generative AI, with new bookings of USD 1.2 billion," she said.
Its operating margin was 16.7 per cent, an increase of 90 basis points compared to operating margin of 15.8 per cent for the first quarter of fiscal 2024.