Accenture Q1FY23 results
Accenture Reports Strong First-Quarter Fiscal 2023 Results
-- Revenues are $15.7 billion, an increase of 5% in U.S. dollars and 15% in local currency --
-- Operating margin expands 20 basis points to 16.5%, with operating income increasing 7% to $2.59 billion --
-- EPS are $3.08, an 11% increase from $2.78 for the first quarter of fiscal 2022 --
-- New bookings are $16.2 billion across consulting and managed services with both at $8.1 billion --
-- Company declares quarterly cash dividend of $1.12 per share, up 15% from a year ago --
-- Accenture updates business outlook for fiscal 2023; raises EPS to $11.20 to $11.52; continues to expect revenue growth of 8% to 11% in local currency; and now expects foreign-exchange impact of negative 5% -
New Bookings
New bookings for the first quarter were $16.22 billion, a 3% decrease in U.S. dollars and a 6% increase in local currency from the first quarter last year.
Consulting new bookings were $8.11 billion, or 50% of total new bookings.
Managed Services new bookings were $8.11 billion, or 50% of total new bookings.
Revenues by Geographic Market
Revenues by geographic market were as follows:
North America: $7.62 billion, an increase of 10% in U.S. dollars and 11% in local currency compared with the first quarter of fiscal 2022.
Europe: $5.07 billion, a decrease of 0.5% in U.S. dollars and an increase of 17% in local currency compared with the first quarter of fiscal 2022.
Growth Markets: $3.05 billion, an increase of 3% in U.S. dollars and 19% in local currency compared with the first quarter of fiscal 2022.
Revenues by Industry Group
Revenues by industry group were as follows:
Communications, Media & Technology: $2.98 billion, an increase of 3% in U.S. dollars and 11% in local currency compared with the first quarter of fiscal 2022.
Financial Services: $2.96 billion, an increase of 2% in U.S. dollars and 13% in local currency compared with the first quarter of fiscal 2022.
Health & Public Service: $3.00 billion, an increase of 10% in U.S. dollars and 15% in local currency compared with the first quarter of fiscal 2022.
Products: $4.67 billion, an increase of 4% in U.S. dollars and 15% in local currency compared with the first quarter of fiscal 2022.
Resources: $2.14 billion, an increase of 10% in U.S. dollars and 21% in local currency compared with the first quarter of fiscal 2022.
Business Outlook
Second Quarter Fiscal 2023
Accenture expects revenues for the second quarter of fiscal 2023 to be in the range of $15.20 billion to $15.75 billion, an increase of 6% to 10% in local currency, reflecting the company’s assumption of an approximately negative 5% foreign-exchange impact compared with the second quarter of fiscal 2022.
Fiscal Year 2023
Accenture’s business outlook for the full 2023 fiscal year now assumes that the foreign-exchange impact on its results in U.S. dollars will be approximately negative 5% compared with fiscal 2022; the company previously expected a negative 6% foreign-exchange impact.
For fiscal 2023, the company continues to expect revenue growth to be in the range of 8% to 11% in local currency.
Accenture continues to expect operating margin for the full 2023 fiscal year to be in the range of 15.3% to 15.5%, an expansion of 10 to 30 basis points from fiscal 2022
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