Accenture Surpasses Quarterly Revenue Estimates On AI Demand

Accenture exceeded Wall Street revenue expectations for the first quarter, driven by rising demand for its AI-powered tools and digital transformation services.

Businesses are ramping up investments in AI projects and digital operations to boost efficiency and reduce costs, benefiting IT service providers like Accenture. I Photo: Accenture

The company’s shares climbed 5% in premarket trading, Reuters reported.

Businesses are ramping up investments in AI projects and digital operations to boost efficiency and reduce costs, benefiting IT service providers like Accenture. New bookings for the quarter reached $18.7 billion, up from $18.4 billion in the same period last year.

Ahead of the results, analysts suggested that tech budgets for fiscal 2025 are likely to grow, favoring companies such as Accenture and EPAM.

Accenture's Generative AI business reported $1.2 billion in new bookings, while its consulting and outsourcing segments posted revenues of $9.2 billion and $9.5 billion, respectively.