Accenture Q4 Results: Revenue Rises 15%, FY23 Guidance Below Estimates
The technology company's revenue rose 15% year-on-year to $15.4 billion in the quarter ended August.
Accenture Plc.'s revenue rose in the fourth quarter aided by improved business across all verticals.
The technology company's revenue rose 15% year-on-year to $15.4 billion in the quarter ended August, according to its filing. Bloomberg consensus estimates forecasted $15.39 billion revenue during the quarter.
Q4 Highlights (YoY)
Revenue from consulting up 14% at $8.33 billion.
Revenue from outsourcing up 16% at $7.09 billion.
Earnings per share at $2.6 versus $2.2.
Bookings rose 22% to $18.4 billion, against the $16.99 billion estimate.
Free cash flow at $3.61 billion.
The operating cash flow stood at $3.79 billion against Bloomberg consensus estimate of $3.57 billion. Meanwhile, operating margin stood at 14.7%
Other Highlights
Approved $3 billion additional share buyback.
The company expects to return at least $7.1 billion in cash to shareholders through dividends and share repurchase.
Guidance
Accenture expects revenue to rise between 10% to 14% for the first quarter of FY23. And grow 8% to 11% in the fiscal 2023.
It also expects EPS between $11.09 to $11.41 during the financial year.
Outlook For FY23
Operating margin 15.3% to 15.5%.
Free cash flow pegged at $7.7 billion to $8.2 billion, against the estimate of $10 billion
Operating cash flow between $8.5 billion to $9.0 billion, against the forecasted $11.1 billion.
Effective tax rate expected to be between 23% to 25%.