Accenture earnings beat forecasts but bookings disappoint

(Sharecast News) - Shares in Accenture came under pressure on Friday, despite robust third-quarter earnings, after bookings at the professional services firm disappointed. Revenues rose 8% in the three months to 31 May, to $17.7bn, at the New York-listed company, while diluted earnings per share jumped 15% to $3.49.

Both figures were above analyst forecasts, for revenues of $17.33bn and EPS of $3.29.

However, new bookings missed estimates, falling 6% to $19.7bn or 7% in local currency. Wall Street had been expecting new bookings closer to $21.5bn.

As at 1300 BST, the shares were nearly 5% lower in pre-market trading.

Chief executive Julie Sweet said she was pleased with the results, "including our 30 clients with quarterly bookings greater than $100m, broad-based growth and continued expansion in our leadership in generative AI".

Looking to the rest of the year, Accenture now expects full-year revenue growth to come in between 6% and 7% in local currency, up from its earlier forecast range of 5% to 7%.

The full-year outlook for diluted EPS was also increased, to between $12.77 and $12.89. Accenture previously said EPS would likely come in between $12.55 and $12.79.