Accenture (ACN) shares rose Thursday after the consulting giant reported third-quarter results that saw profit beat estimates and artificial intelligence (AI)-related bookings surge.
The headline numbers for Accenture (ACN) give insight into how the company performed in the quarter ended May 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Accenture plc delivered strong results with a 22% increase in new bookings, surprising investors. Despite a high valuation at 23x next year's EPS, Accenture's solid balance sheet and shareholder returns make it an attractive investment. The company's growth prospects, industry expertise, and commitment to innovation justify the premium valuation and support a bullish outlook.
Accenture (ACN) came out with quarterly earnings of $3.13 per share, missing the Zacks Consensus Estimate of $3.14 per share. This compares to earnings of $3.19 per share a year ago.
Accenture stock gained Thursday despite missing expectations for Q3 earnings and sales. The firm touted its AI growth.
The company says generative artificial intelligence new bookings were more than $900 million in the quarter.
Accenture PLC's stock ACN rose 6% early Thursday, after the consulting firm posted fiscal third-quarter earnings showing more than $900 million in bookings from generative AI. New York-based Accenture had net income of $1.934 billion, or $3.04 a share, for the quarter to May 31, down from $2.012 billion, or $3.15 a share, in the year-earlier period.
Accenture Plc (NYSE: ACN) is in focus this morning after announcing plans of buying Fibermind – a network services company based out of Palermo, Italy. The Irish professional services giant completed its acquisition of Parsionate as well on June 6th.
Accenture plc ACN is set to release third quarter financial results, before the opening bell on Thursday.
Accenture (NYSE: ACN) stock price has nosedived since March as investors focus on the upcoming earnings. It has dived by more than 26% from its highest point this year, meaning that it has moved into a deep bear market.
Accenture's (ACN) third-quarter fiscal 2024 revenues and earnings are expected to have declined year over year.
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