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Accenture unveils $4 billion share buyback, lifts 2025 revenue guidance by 3-6% on AI-led order boom | Stock Market News
Source: Live Mint
Accenture unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter revenue driven by a high demand from companies looking to adopt generative artificial intelligence (AI) technology.
Accenture hiked it’s annual revenue growth forecast to 3-6 per cent for 2025 after an improvement in macroeconomic indicators and US Federal Reserve’s supersized interest rate cut. Accenture follows a September-August financial year.
Shares of the information technology (IT) major were up nearly seven per cent in premarket trading. The Dublin-based company reported fourth-quarter revenue of $16.41 billion, slightly better compared to analysts’ expectations.
The IT giant’s generative AI business, which helped the company offset the slowdown in demand for tech services, continued to grow for a fourth successive quarter.
Accenture new bookings
Accenture’s new bookings, a key metric indicating the value of customer contracts with spending commitments, rose to $20.1 billion for the fourth quarter, up from $17.25 billion in the third quarter.
According to news agency Reuters, generative AI bookings contributed $1 billion to the company’s new bookings, compared to $900 million in the previous quarter.
