Summary
Accenture plc reported solid results for the first quarter of fiscal year 2023, ending November 29, 2022. Revenues grew 5% in U.S. dollars to $15.7 billion, and a more impressive 15% in local currency, indicating strong underlying business performance despite currency headwinds. Diluted earnings per share (EPS) increased by 11% year-over-year to $3.08, demonstrating effective operational management and profitability. The company's performance was driven by robust demand across its services, particularly in consulting and managed services, with double-digit local currency growth in key geographic markets including North America, Europe, and Growth Markets. Accenture also demonstrated a commitment to returning capital to shareholders, with $2.1 billion returned through share purchases and dividends, underscoring financial discipline and confidence in future performance.
Financial Highlights
53 data points| Revenue | $15.75B |
| Cost of Revenue | $10.56B |
| Gross Profit | $5.19B |
| Operating Expenses | $13.15B |
| Operating Income | $2.59B |
| Interest Expense | $7.28M |
| Net Income | $1.96B |
| EPS (Basic) | $3.12 |
| EPS (Diluted) | $3.08 |
| Shares Outstanding (Basic) | 630.14M |
| Shares Outstanding (Diluted) | 638.77M |
Key Highlights
- 1Revenue increased 5% to $15.7 billion in U.S. dollars and 15% in local currency, showing strong underlying demand.
- 2Diluted Earnings Per Share (EPS) rose 11% to $3.08, indicating improved profitability.
- 3New bookings reached $16.2 billion, with a 6% increase in local currency, suggesting continued client engagement.
- 4Operating margin expanded to 16.5% from 16.3% in the prior year's quarter.
- 5Cash returned to shareholders was substantial at $2.1 billion, comprising $1.4 billion in share purchases and $706 million in dividends.
- 6Workforce grew to approximately 738,000 employees, up from 674,000 in the prior year, reflecting business expansion.
- 7Voluntary attrition decreased to 13% from 17% in the prior year, indicating improved employee retention.