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Accenture beats estimates for Q1 revenue on rise in services demand

The company's new bookings rose to $18.7 billion for the first quarter from $18.4 billion a year earlier

Accenture

Shares of the company rose 5 per cent in premarket trading. | Photo: Wikimedia commons

Reuters

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IT service provider Accenture beat Wall Street estimates for first-quarter revenue on Thursday, on the back of growing demand for its services to help clients adopt AI-powered tools. 
Shares of the company rose 5 per cent in premarket trading. 
Businesses are investing heavily to scale their AI projects and digitize their core operations to boost efficiency and cut costs, which is helping companies such as Accenture. 
The company's new bookings rose to $18.7 billion for the first quarter from $18.4 billion a year earlier. 
Accenture's first-quarter revenue stood at $17.7 billion, beating analysts' estimates of $17.12 billion, according to data compiled by LSEG. 
 
The company expects annual revenue to grow between 4 per cent and 7 per cent, compared with analysts' expectations of 5.63 per cent. It had earlier forecast growth of 3 per cent-6 per cent.   
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 

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First Published: Dec 19 2024 | 6:46 PM IST

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