Accenture announces strong Q3 results with higher voluntary attrition

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Accenture Report Strong Q3 Results; Strong Sign Outlook for Infosys, TCS
Accenture has reported voluntary attrition at 20% higher than the previous quarter's 18% in the second quarter and 17% in the first quarter.

Accenture, a global professional services company with leading capabilities in digital, cloud, and security has reported its financial results for the third quarter of fiscal 2022 which ended May 31, 2022.

Accenture has reported higher voluntary attrition at 20% higher than the previous quarter’s 18% in the second quarter and 17% in the first quarter.

The company has added about 11,928 people in q3 with a total headcount of 7,21,928 globally.

The company has announced revenues of $16.2 billion, an increase of 22% in U.S. dollars and 27% in local currency over the same period last year.

  • Revenues are $16.2 billion, an increase of 22% in U.S. dollars and 27% in local currency
  • Operating income increases 23% to $2.6 billion, with operating margin of 16.1%, an expansion of 10 basis points
  • New bookings are $17.0 billion, the company’s second-highest ever, a 10% increase in U.S. dollars and 15% in local currency
  • EPS are $2.79, a 16% increase including a $0.15 or 6% negative impact related to the disposition of Russia business
  • Company declares quarterly cash dividend of $0.97 per share, up 10% from a year ago —
  • Accenture updates business outlook for fiscal 2022; raises full-year revenue growth to 25.5% to 26.5% in local currency; continues to expect operating margin of 15.2% and free cash flow of $8.0 billion to $8.5 billion; updates EPS to $10.61 to $10.70; and now expects foreign-exchange impact of negative 4.5%

Commenting on the Q3 Results, Julie Sweet, Accenture’s Chair & CEO, said, “Our very strong financial results for the third quarter reflect continued broad-based demand across markets, services, and industries, and the continued recognition of the outstanding talent of our 710,000 people.”

“We continue to gain significant market share, and our services have never been more relevant as our clients turn to us as the trusted partner for the solutions they need to accelerate growth and become more resilient and efficient,” she added.

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