Accenture cuts its profit prediction for FY24

<p>Accenture, a supplier of IT services, lowered its revenue projection for FY24 on Thursday after customers reduced their expenditure on consulting services because of the uncertain economy. From its previous estimate of 2% to 5%, it now projects full-year revenue growth of 1% to 3%.</p>
<p> </p>
<p><img decoding=”async” class=”alignnone wp-image-540255″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-accenture-cuts-its-profit-prediction-for-fy24-tnie-import-2021-6-15-original-accen-750×491.jpg” alt=”theindiaprint.com accenture cuts its profit prediction for fy24 tnie import 2021 6 15 original accen” width=”1072″ height=”701″ title=”Accenture cuts its profit prediction for FY24 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-accenture-cuts-its-profit-prediction-for-fy24-tnie-import-2021-6-15-original-accen-750×491.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-accenture-cuts-its-profit-prediction-for-fy24-tnie-import-2021-6-15-original-accen-1024×671.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-accenture-cuts-its-profit-prediction-for-fy24-tnie-import-2021-6-15-original-accen-768×503.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-accenture-cuts-its-profit-prediction-for-fy24-tnie-import-2021-6-15-original-accen.jpg 1200w” sizes=”(max-width: 1072px) 100vw, 1072px” /></p>
<p>The business had $15.80 billion in sales for the second quarter of FY24 (December–February), down from $15.81 billion during the same time the previous year. In terms of revenue, the company’s anticipated range of $15.40 billion to $16.00 billion was marginally exceeded.</p>
<p>In the second quarter of fiscal 2023, its GAAP operating income was $2.05 billion, up from $1.94 billion, and its operating margin was 13.0%, down from 12.3% in the same period the previous year. “We remain the trusted partner to our clients for reinvention in an uncertain macro environment,” said Julie Sweet, chair and CEO of Accenture, “with a record 39 clients with quarterly bookings of over $100 million.”</p>
<p>In the first half of the year, we added $1.1 billion in new bookings, maintaining our early advantage in generative AI. “We are investing with $2.9 billion of capital deployed in the first half in strategic acquisitions to meet our clients’ needs and expand our growth opportunities,” the spokesperson said.</p>