Accenture targets $15.75 bn revenue in line with strong IT demand

Accenture reveals first-quarter revenue forecast of $15.20 billion to $15.75 billion in line with the strong demand for IT services.
Accenture business ITAccenture, which generates more than half of its revenue from outside the United States, expects a 6 percent hit to results from the dollar in fiscal 2023.

Accenture said revenues for the fourth quarter of fiscal 2022 were $15.4 billion, compared with $13.4 billion for the fourth quarter of fiscal 2021.

Accenture generated revenue of $7.52 billion (+18%) in North America, $4.80 billion (+12%) in Europe and $3.10 billion (+13%) in Growth Markets.

Accenture generated revenue of $3.08 billion (+16%) in Communications, Media & Technology, $2.94 billion (+13%) in Financial Services, $2.89 billion (+15%) in Health & Public Service, $4.48 billion (+16%) in Products and $2.03 billion (+13%) in Resources.

Accenture, whose offerings include cloud and security services, reported new bookings of $18.40 billion for the fourth quarter ended Aug. 31, its second highest on record.

Analysts have cautioned that a slowdown could dent IT budgets and cracks have started showing after measured client spending forced Salesforce to cut its forecasts.

“Concern for Accenture and other IT Consulting firms is the increasing indication of new IT deployments being halted,” said Erik Bradley, chief strategist at research firm ETR.

“The initial expectation for total 2023 spend is currently at 5.9 percent growth for next year, a muted number compared to recent years.”