Accenture Stock Gains on Q1 Beat, Raised FY22 Outlook

By Benzinga
Benzinga
Benzinga
December 16, 2021 Updated: December 16, 2021

Accenture PLC reported first-quarter FY22 revenue growth of 27 percent year-on-year to $14.97 billion, beating the consensus of $12.6 billion.

New bookings increased 30 percent Y/Y to $16.8 billion. Consulting revenues rose 33 percent Y/Y to $8.4 billion, and Outsourcing revenues increased 21 percent Y/Y to $6.6 billion.

Geographic Market Revenue

North American market revenue grew 26 percent Y/Y to $6.9 billion; European market increased 29 percent Y/Y to $5.1 billion; Growth Markets Revenue rose 28 percent Y/Y to $2.96 billion.

Industry Group Revenue

Communications, Media & Technology segment revenue rose 32 percent Y/Y to $3.1 billion; Financial Services unit revenue increased 24 percent Y/Y to $2.9 billion; Health & Public Service division revenue expanded 23 percent Y/Y to $2.7 billion; Products segment revenue rose 34 percent Y/Y to $4.3 billion; while the Resources unit revenue increased 17 percent Y/Y to $1.95 billion.

Margin

The operating margin expanded 20 basis points to 16.3 percent.

EPS of $2.78 beat the consensus of $2.36.

The company generated $531 million in operating cash flow and held $5.6 billion in cash and equivalents.

Dividend

Accenture’s quarterly dividend of $0.97 per share is payable on February 15, 2022, for shareholders of record on January 13, 2022.

Guidance

Accenture sees Q2 FY22 revenue of $14.30 billion – $14.75 billion, above the consensus of $12.48 billion.

Accenture raised the FY22 revenue growth outlook from 12 percent – 15 percent to 19 percent – 22 percent. Accenture raised FY22 GAAP EPS outlook from $9.90 – $10.18 to $10.32 – $10.60, above the consensus of $9.01.

By Anusuya Lahiri 

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.


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