Strong set of Q1 results for Accenture

Accenture has reported financial results for Q1 2022, ended 30 November 2021, revealing revenues of $15bn, an increase of 27 percent in both US dollars and local currency over the same period last year.

Diluted earnings per share were $2.78, a 20 percent increase from $2.32 for the first quarter last year, which included $0.15 in gains on an investment.

The company reported an operating income of $2.43bn, a 29 percent increase over the same period last year.

New bookings for the quarter were at a record $16.8bn, with record consulting bookings of $9.4bn and outsourcing bookings of $7.4bn.

Julie Sweet, Accenture’s chair and CEO, said: “We were pleased to continue delivering 360-degree value for our clients as they accelerate their digital transformations. Our outstanding first-quarter financial performance and ability to capitalise on the market opportunity reflects continued market share gains. This is the direct result of having executed for years a strategy to rotate our business to digital, cloud and security, both hiring and upskilling exceptionally talented people across the globe and fostering deep relationships with both the world’s leading companies and our technology partners.

“I am especially proud that we added 50,000 people to our workforce this quarter, now at 674,000, reflecting our strong employee experience, which enables us to attract and grow great people.”

Accenture expects revenues for the second quarter of fiscal 2022 to be in the range of $14.3bn to $14.75bn, an increase of 22 to 26 percent in local currency. For fiscal 2022, the company now expects revenue growth to be in the range of 19 to 22 percent in local currency, compared with 12 to 15 percent previously.

This week, Accenture also announced the acquisition of Zestgroup, a Netherlands services firm that specialises in energy transactions, net carbon-zero projects, and procurement of renewables. Terms of the transaction were not disclosed.