Accenture Reports Strong Financial Results for Q4 and Full Fiscal Year 2023

Accenture, a leading global professional services company, has unveiled its financial results for the fourth quarter and full fiscal year ending on August 31, 2023.
Accenture revenue in Q4 fiscal 2023Fourth Quarter Fiscal 2023 Highlights:

Revenues: Accenture reported revenues of $15.99 billion for Q4 2023, marking a 4 percent increase compared to the same quarter in 2022 ($15.42 billion).

Consulting Revenues: Consulting revenues amounted to $8.20 billion, reflecting a 2 percent decrease.

Managed Services Revenues: Managed Services revenues saw a significant increase of 10 percent, reaching $7.79 billion.

Geographic Market Revenues:

North America: Revenues in North America remained flat in U.S. dollars at $7.55 billion compared to Q4 of fiscal 2022.

Europe: Accenture reported revenues of $5.30 billion in Europe, reflecting a 10 percent increase in U.S. dollars.

Growth Markets: Revenues in Growth Markets amounted to $3.13 billion, showing a 1 percent increase in U.S. dollars.

Industry Group Revenues:

Communications, Media & Technology: Revenues in this sector amounted to $2.71 billion, showcasing a 12 percent decrease in U.S. dollars.

Financial Services: The Financial Services sector experienced an increase of 3 percent in U.S. dollars, with revenues reaching $3.03 billion.

Health & Public Service: This sector witnessed a remarkable surge, with revenues increasing by 13 percent in U.S. dollars, amounting to $3.27 billion.

Products: Revenues in the Products sector rose by 6 percent in U.S. dollars, totaling $4.75 billion.

Resources: The Resources sector reported an impressive 10 percent increase in both U.S. dollars, generating revenues of $2.23 billion.

Full Fiscal Year 2023:

For the full fiscal year, Accenture’s revenues totaled $64.1 billion, marking a 4 percent increase compared to fiscal 2022. New bookings for the year amounted to $72.2 billion.

Business Outlook:

First Quarter Fiscal 2024:

Accenture projects revenues for the first quarter of fiscal 2024 to range between $15.85 billion and $16.45 billion, or -2 percent to 2 percent in local currency. This projection assumes a positive 2.5 percent foreign-exchange impact compared to the first quarter of fiscal 2023.

Fiscal Year 2024:

Looking ahead to fiscal year 2024, Accenture anticipates flat foreign-exchange impact on its results in U.S. dollars compared to fiscal 2023. The company foresees revenue growth to fall within the range of 2 percent to 5 percent in local currency.