In New York trading on the first of the month, shares of U.S. IT consulting giant Accenture rose 15.8% from the previous day, marking the largest single-day gain on a closing basis in its history. The company's outlook for annual revenue growth that exceeded market expectations eased concerns over the damage artificial intelligence could do to its business. Accenture's latest forecast for fiscal 2027 revenue growth is 3% to 6% year over year, with the midpoint of that range above the 3.9% average analyst estimate compiled by LSEG. Fourth-quarter bookings for the June-to-August period rose 4% from a year earlier to 22.17 billion dollars, while revenue in its consulting segment increased 7% to 9.28 billion dollars. Total revenue climbed to 18.68 billion dollars, topping the market estimate of 18.03 billion dollars. Chief Executive Julie Sweet said on a conference call after the earnings release that there are opportunities to accelerate the growth strategy, and indicated the company expects to spend about 5 billion dollars more on acquisitions in fiscal 2027.
Accenture plcAccenture's fiscal 2027 revenue growth outlook of 3-6% beat the 3.9% analyst estimate, and Q4 revenue of $18.68B topped the $18.03B estimate, easing AI disruption fears.
