Earnings: Accenture (ACN) Q2 profit rises but misses estimates; revenues flat

Business consulting services provider Accenture plc. (NYSE: ACN) reported a modest increase in adjusted earnings for the second quarter of 2024 when the company’s revenues remained unchanged year-over-year.

Second-quarter net income increased to $1.67 billion or $2.63 per share from $1.52 billion or $2.39 per share in the corresponding period of last year. Analysts had predicted a bigger number for the latest quarter.

At $15.8 billion, Q2 revenues were unchanged from the second quarter of 2023, and came in slightly below estimates. There was a 2% decrease in new bookings to $21.58 billion during the three months.

“In an uncertain macro environment, we remain the trusted partner to our clients for reinvention with a record 39 clients with quarterly bookings of over $100 million. We also extended our early lead in generative AI with $1.1 billion in new bookings in the first half of the year,” said Julie Sweet, chief executive officer of Accenture.

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