Accenture Stock Shoots Up After Q3 Print, CEO Highlights $2B in Generative AI Sales
Portfolio Pulse from Anusuya Lahiri
Accenture (NYSE: ACN) reported Q3 fiscal 2024 sales of $16.47 billion, slightly below analyst expectations but within the company's guidance range. Adjusted EPS missed estimates, but new bookings were strong at $21.06 billion. The company highlighted $2 billion in Generative AI sales and announced a quarterly dividend. Shares are up 8.99% premarket.
June 20, 2024 | 12:30 pm
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Accenture reported Q3 fiscal 2024 sales of $16.47 billion, slightly below analyst expectations but within the company's guidance range. Adjusted EPS missed estimates, but new bookings were strong at $21.06 billion. The company highlighted $2 billion in Generative AI sales and announced a quarterly dividend. Shares are up 8.99% premarket.
Despite missing EPS estimates, Accenture's strong new bookings and significant Generative AI sales have positively impacted investor sentiment, leading to a premarket share price increase of 8.99%. The announcement of a quarterly dividend further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100