Accenture said revenue for Q2 of fiscal 2024 was $15.8 billion, flat with the prior-year period in both U.S. dollars and local currency, and new bookings were $21.6 billion, a decrease of 2%.

1. 01

   Accenture said revenue for Q2 of fiscal 2024 was $15.8 billion, flat with the prior-year period in both U.S. dollars and local currency, and new bookings were $21.6 billion, a decrease of 2%.

2. 02

   The company said its operating margin for Q2 was 13.0%, compared with 12.3% a year earlier. Adjusted operating margin, which excludes business optimization costs of $115 million ($244 million a year earlier), was 13.7%, compared with 13.8% a year earlier.

3. 03

   Accenture said consulting revenue for Q2 decreased 3% in both U.S. dollars and local currency, while managed services revenue increased 3% in both. The company said clients are slowing the pace and level of their spending, particularly for smaller contracts with shorter durations, and it explained this as the reason for the slower pace.

4. 04

   The company said cash and cash equivalents were $5.1 billion as of February 29, 2024, down from $9.0 billion as of August 31, 2023. Cash returned to shareholders in Q2 totaled $2.1 billion, consisting of share purchases of $1.3 billion and dividends of $813 million.

Key figures

Quarter ended February 29, 2024

Revenue

$15.8B

Operating income

$2.0B

Net income

$1.7B

EPS

$2.63

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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