Accenture’s fiscal 2024 results show strong growth

NEW YORK, UNITED STATES — Global professional services giant Accenture recently reported impressive financial results for the fourth quarter and full fiscal year ending August 31, 2024.
The company’s revenue for the fourth quarter was $16.4 billion, reflecting a 3% increase in U.S. dollars and a 5% rise in local currency compared to the previous year. For the entire fiscal year, revenues reached $64.9 billion, marking a 1% increase in U.S. dollars and a 2% gain in local currency.
The company also set a new record with $81.2 billion in new bookings for the fiscal year, representing a 13% increase in U.S. dollars and a 14% increase in local currency. This includes $20.1 billion in new bookings for the fourth quarter, underscoring Accenture’s robust market position and high client demand.
Improved margins and earnings
Accenture reported an improved GAAP operating margin of 14.3% for the fourth quarter, up from 12.0% in the same period last year, while the adjusted operating margin stood at 15.0%. For the full fiscal year, the GAAP operating margin increased to 14.8%, with an adjusted margin of 15.5%.
The company’s diluted earnings per share (EPS) rose by 24% to $2.66 for the fourth quarter, with an adjusted EPS of $2.79, marking a 3% increase from last year. For the full fiscal year, GAAP EPS increased by 6% to $11.44, while adjusted EPS saw a modest rise of 2% to $11.95.
Strategic focus on AI and shareholder returns
Accenture continues to lead in generative artificial intelligence (AI), securing $3 billion in new bookings for this technology during the fiscal year.
Julie Sweet, Chair and CEO of Accenture, emphasized the company’s focus on AI as a transformative technology, adding, “We continue to accelerate our leadership in Generative AI, which we believe is the most transformative technology of the next decade.”
In fiscal 2024, Accenture returned $7.8 billion to shareholders through dividends and share repurchases. The company also increased its quarterly dividend by 15% to $1.48 per share.
Earlier this year, the firm announced its plan to set up more GenAI studios across the Asia Pacific (APAC) and Latin America to meet the growing demand from firms to harness the power of the latest technologies.
They are also doubling down on their strategy to leverage Indian talent as a cornerstone of their growth initiatives. With over 300,000 employees in India, the company plans to expand its workforce further, emphasizing technological roles.
Positive outlook for fiscal 2025
Looking ahead to fiscal 2025, Accenture projects revenue growth between 3% and 6% in local currency and expects GAAP EPS to range from $12.55 to $12.91, indicating a potential increase of up to 8% from adjusted EPS for fiscal 2024.
Accenture’s strong financial performance highlights its strategic investments and adaptability in a rapidly evolving technological landscape.
A global leader in professional services, Accenture operates in more than 120 countries and has an approximately 750,000-person workforce. For the second consecutive year, it ranked #1 in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.