Information technology major, Accenture has announced its third quarter, May ending results. Accenture follows a September-August financial year.
IT giant’s headcount increased by 7,882 employees, total headcount stood at 750,200 globally in Q3FY24. In the previous quarter, Accenture’s headcount dropped by 723 employees to 742,318 in Q2FY24.
In the third quarter ending December 31, 2023, the top five Indian IT companies collectively reduced their workforce by 14,931 employees compared to the previous quarter.
Accenture reported an increase in its attrition rate to 14% in the third quarter of fiscal year 2024 (Q3FY24), compared to 13% in the second quarter. This indicates a rising trend in employee turnover within the company during this period.
Key Highlights
- Accenture headcount increased by 7,882 employees.
- Generative AI new bookings of over $900 million for a total of $2 billion fiscal year to-date.
- Revenues of $16.5 billion, a decrease of 1% in U.S. dollars and increase of 1.4% in local currency, with consulting revenues of $8.5 billion and managed services revenues of $8.0 billion.
- GAAP operating margin of 16.0%, an increase of 180 basis points over the third quarter of fiscal 2023; adjusted1 operating margin of 16.4%, an expansion of 10 basis points.
- GAAP EPS of $3.04, a decrease of 3% from the third quarter of fiscal 2023; adjusted EPS of $3.13, a 2% decrease.
- Quarterly cash dividend of $1.29 per share, an increase of 15%.
Julie Sweet, chair and CEO, Accenture, said, “Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results. We achieved strong new bookings of over $21 billion, up 22% over last year, and continued to accelerate our strategy to be the reinvention partner of choice, with another 23 clients with quarterly bookings of over $100 million, bringing the total of such bookings to 92 year-to-date.”
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“We also achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to date — which demonstrate our early lead in this critical technology”, Julie Sweet added.
Julie Sweet further said, “All of this while investing at scale in our business with another 35 acquisitions or $5.2 billion of capital deployed year-to-date. I want to thank the 750,000 people of Accenture around the world who work every day to deliver 360° value for our stakeholders.”
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