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.
Fourth 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.
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.