Accenture forecasts 2024 revenue growth above estimates on AI demand [Globe and Mail, The (Toronto, Canada)]
Accenture plc Class A Ordinary Shares (Ireland) (ACN)
Last accenture plc class a ordinary shares (ireland) earnings: 3/19 06:44 am
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Source: Globe and Mail, The
intelligence offsets sluggish growth in enterprise spending, sending its shares up 3 per cent in premarket trading. Generative AI technologies used to automate certain operations are helping companies boost productivity and save costs. Accenture has also been a go-to consultant and outsourcing service provider for businesses migrating their operations to the cloud, partially shielding the company from inflation-triggered IT budget cuts. The company expects annual revenue to grow between 1.5 per cent and 2.5 per cent, compared with analysts' expectations of 1.6 per cent, according to LSEG data. It had earlier expected growth between 1 per cent and 3 per cent. Revenue for the quarter ended May 31 stood at $16.47-billion, compared with estimates of $16.53-billion. Its reported third-quarter profit of $1.93-billion, compared with $2.01-billion a year earlier. Quarterly new bookings, a metric indicating value of customer contracts with a spending commitment, was $21.06-billion,
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- Accenture plc (NYSE: ACN) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $300.00 price target on the stock, down previously from $382.00.MarketBeat
- Accenture plc (NYSE: ACN) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $300.00 price target on the stock, down previously from $382.00.MarketBeat
ACN
Earnings
- 6/20/24 - Miss
ACN
Sec Filings
- 6/20/24 - Form 10-Q
- 6/20/24 - Form 8-K
- 6/11/24 - Form 8-K
- ACN's page on the SEC website