The Share price of Accenture saw a significant increase of 11.34% on the NewYork Stock Exchange (NYSE) on June 20 (GMT-4) when the company, a day before reported financial results for the third quarter of fiscal 2024 ended May 31, 2024. Accenture reported new bookings totalling USD 21.1 billion, marking a remarkable increase of 22% in U.S. dollars and 26% in local currency. 

Notably, generative AI new bookings accounted for over USD 900 million, bringing the year-to-date total to USD 2 billion. The company generated revenues of USD 16.5 billion, representing a decrease of 1% in U.S. dollars, but an increase of 1.4% in local currency. This revenue figure comprised USD 8.5 billion from consulting services and USD 8.0 billion from managed services.

Accenture also reported a Generally accepted accounting principles (GAAP) operating margin of 16.0%, reflecting an impressive increase of 180 basis points over the third quarter of fiscal 2023. Furthermore, the company achieved an adjusted operating margin of 16.4%, marking an expansion of 10 basis points. The GAAP – Earning per share (EPS) stood at USD 3.04, a slight decrease of 3% from the third quarter of fiscal 2023, while the adjusted EPS was USD 3.13, representing a 2% decrease.

Further, Accenture announced a quarterly cash dividend of USD 1.29 per share, indicating a substantial 15% increase. Moreover, the company updated its business outlook for fiscal 2024, now expecting full-year revenue growth of 1.5% to 2.5% in local currency, with a projected foreign-exchange impact of negative 0.7%. 

The company also revised its GAAP EPS outlook to range between USD 11.29 and USD 11.44, and adjusted EPS in the range of USD 11.85 to USD 12.00. Accenture maintains its expectation for a GAAP operating margin of 14.8%, adjusted operating margin of 15.5%, and free cash flow in the range of USD 8.7 billion to USD 9.3 billion.

At 4:00 pm GMT-4, on June 20, the shares of Accenture were trading 7.29% higher at Rs 306.16 on NYSE.