© Reuters.
NEW YORK – Accenture (NYSE:) PLC today revealed its financial results for the first quarter of fiscal 2024, showing continued increases in revenue and earnings per share (EPS). The company reported a 3% increase in revenue, to $16.2 billion, and a slight increase in GAAP EPS, to $3.10. Adjusted earnings per share saw a larger increase of 6%, to $3.27.
This growth was attributed to a strong 14% increase in new bookings, totaling $18.4 billion. This influx of new business also led to an improvement in gross margin, which increased from 32.9% last year to 33.6%. However, GAAP operating margin declined slightly to 15.8%, while adjusted operating margin saw a modest increase of 20 basis points.
Accenture’s financial health is also evidenced by its operating cash flow, which totaled $499 million, and its free cash flow, which reached $430 million. However, the company reported an increase in debt recovery time (DSO) to forty-nine days.
Performance varies by service and region. Outsourcing revenue increased by 6%, but consulting revenue remained unchanged from the previous year. Geographically, the Europe, Middle East and Africa (EMEA) region enjoyed a 9% increase in revenue, while North America saw a slight decline.
Looking ahead, Accenture provided optimistic guidance for fiscal 2024, with earnings per share (GAAP) estimated between $11.41 and $11.76 and adjusted earnings per share (EPS) forecast between $11.41 and $11.76. .97 and $12.32.
In addition to these financial indicators, Accenture announced an increase in its quarterly dividend by fifteen percent to $1.29 per share and also confirmed that it had repurchased shares worth $1.2 billion.
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2023-12-19 14:48:03
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