Accenture (ACN) 17 Dec 202021 Q1 Earnings call transcript

Ladies and gentlemen, thank you for standing by. Welcome to the Accenture's First Quarter Fiscal 2021 Earnings Conference Call. At this time all participants are in a listen only mode. Later we will conduct a question-and-answer session, instruction will be given at that time. [Operator Instructions] As a reminder this conference is being recorded. to Head conference of like host, to now Director, Managing Investor would turn over the your I Relations, Ms. Park. Angie ahead. go Please

Thank XXXX everyone, our thanks you, us Operator, on today for first announcement. earnings joining fiscal quarter and

the We As opportunity and Director, of release the ago. Chief KC news you hear McClure, Investor Managing our to Sweet, Officer. call, Head from today's our operator Julie a I'm hope On Chief issued Park, an short mentioned, will just review you've Angie had Relations. Executive we Financial Officer; time

the Julie outline begin results. Let agenda a through then for XXXX. the fiscal along me quickly positioning Julie key for business the market our take and will an full operational for the brief on our today's of statement call. KC second first details, provide provides before our year the including sheet, income outlook will overview metrics will financial quarter. and update you quarter with balance KC with some

We take of at wrap-up the call. Julie the before will provides your end then a questions

on to the forth today's to from call, report risks of uncertainties, unknown known and discuss not uncertainties and could reports are are this annual as release set we'll matters expressed outlook and and including our subject but including news and discussed those and forward-looking, this filings. in and to on factors These Some limited business risks such in cause materially on quarterly other differ XX-K Form those our call. on results SEC Form XX-Q actual

accenture.com. useful Investor in measures, appropriate information financial financial our certain reconciliations measures GAAP at release provide the where our Relations today, for believe or news of our we include call of website During reference we non-GAAP non-GAAP section will investors. to in We which

assumes obligation on always, conference information As presented the to this update no Accenture call.

Julie. over turn me let call the to Now,

page, is people fiscal I our begin Today, to for a second-half by crisis. at our on quarter, we year our delivering time need, year. reality of and focus of quarter. results XXX,XXX Last a fiscal to our a announce with year stronger but value for represent. laser shared work facing as began new for that no turning crisis, to these and shared we a pleased fiscal were our longer 'XX, financial value rates dedication their clients previously growth first results will delivering are what on which how we very than began to this the I by navigating clients food I also we hard thanking great COVID 'XX strong our returning

new well to clear exciting pivot and Our the Not future. only to results took position, our strong strengthened our our quarter, have as position a FY strengthen to but market in QX we business made market our with as have delivered we agility. how we continue for ability actions 'XX

Let's our financial the in revenue local well growth with across of of start ahead guidance globe. improvement delivered our currency, with broad-based results. We X%

more be position year, bookings our with trailing in $XX.X $XXX of to which of million XX billion, to XX% basket We the refers with continue companies. our over our traded estimated four four a delivered than extend over the over leadership clients bookings. growth quarters QX new strong We times last increase exceptionally to market, publicly including

strategic substantial operations to and business, will intelligent delivered walk returned as including closing to areas, quarter cloud, and acquisitions as continued profitability We invest our in through strong Industry cash KC X, and such XX shareholders. we this substantially in

emissions, for building to have net industry-leading for With XX% our on and a era best South of of digital business plan XXXX. goals are on in I'm what the three has set of talent to of XX-XX We meet and strategy in the goal differentiator We leadership in significant and with gender Managing billion types replatforming and of XXX-degree goal we the clients, record overall promoted new end Accenture Managing greater appointed Now, and launched serve talent. company into by commitment campaign services Directors, We world, Cloud goals deliver track the brand XX% achieve only XXXX continue have raised including to XXXX, countries investment cycle that attracting XXXX. critical achieve around excited zero XXX be to UK XX% our and as our our our in $X our XX% let set remain Africa XXXX. attract annual globally in have overall, in actions our our our partner. the most commitment and among Directors bar women, highlight by me December, the goal professional race growth purpose, We And today Managing and better In equality setting responsible these trusted a our in to to we our representation First our private end taken these equality inclusion a we've our long-standing environment, we clients, clients help to major and to women external waste We in value decade. announce well-recognized a success will created zero U.S., met by believe external move of and water by diversity of been to new the Senior to a to women QX of and I to announced goals XXX Directors a a level public to transparency. with XX% and extend and business and the our or largest year global and planned a become cloud. Managing the in to and once risk. new a previous women. to ethnicity we again, record the best Directors industry the

in have to forward over moving we you our busy As KC, reality. new see, you. can been

Thank step continues We in with call. to to leadership and clients were us full shareholders an to Happy you, positive time year and extend the of a overall thanks The our first volatile exceeded pleased you, in results marketplace, and our our value objectives. taking Holidays to achieving the in our focused environment. we which quarter, our all on very execution significant strategy Julie. today's the represent position to of for first as deliver and expectations our join uncertain our

X a a from decline million by grew continue services of more across and over markets, $XXX costs. than reimbursable me let QX points, in summarizing Revenues few So industries. revenues of driven broad-based in by to percentage local travel from highlights our revenues and guided X% range, currency a the reduction delivery approximately quarter. begin of above the were include

clients impacted but public defence, serve market. digit quarters. We aerospace include highly aggregate above our and digits, in consistent Approximately we industries continued to continued retail also same were continue to and from at time, pressure more diversity business service, a from came double growth At industries, level with with that our our the platforms and in the continues the The energy, continue and revenues well, by the which travel, in less extend of grow moderate last industrial. single sciences. remain to high-tech industry software significantly leadership XX% saw trends and of seven us positions few high life pandemic, growth the with including impacted

While of performance XX% group digits. this low varied, over double and declined represents revenues our

leadership. making XX while points. significant investments Our increase business operating We delivered our an margin expansion our people of was market XX.X% basis for and our the extend quarter, in to

repurchases benefit continue investment. lower fiscal And on and flow from cash to adjusting strong $X.X free finally, And delivered dividends. and shareholders $X.XX, EPS we years after for both and events. X% we over delivered an of billion billion $X.X of on We to returned very travel spend gains up significant 'XX, through

in also me we details, With expect approximately and to comments, $XXX of in some bookings. turn new let billion million to invest We $X.X high least fiscal year. starting acquisitions at level invested this the those with acquisitions

our services pleased with with and and strength Consulting grew bookings also overall We book-to-bill were of and the with X.X. of X.X. $X.X of book-to-bill our Outsourcing which bookings book-to-bill with this bookings billion pleased reflecting were quarter $XX.X We the strategy of were billion New billion $X.X were a both a X.X. bookings X.X. were operations. for an of very book-to-bill technology by XX%, driven consulting, a bookings with quarter,

to continue feel very we good forward, Looking our pipeline. about

costs. local up from of of X% approximately in dollars declined a U.S. double currency. for Turning currency, X% in quarter at mid-single services approximately a and revenues. billion, Outsourcing $X.X our double the Revenues a a revenues increase $XX.X reduction X% including reimbursable decline in now currency, closer U.S. and technology and quarter a digits, and decline the grew X% in local Taking consulting billion, a were digits, in Consulting of dollars strategy decline operations from of travel travel services costs. dollars look a and including revenues in in dimensions, decline local reduction from revenues service X% grew U.S. reimbursable low in digit. billion, X% to $X.X from X% X% were revenues were a for

revenue with in earlier In markets. was Turning revenue to Italy, manner that our declined delivered in In improving currency. growth industry led markets. continue America, a The X% play North flat. to high saw Australia. X% we I UK digit mentioned markets, single revenue three In digit both in across geographic dynamics currency. all out by to similar Europe, in Japan growth local growth and X% in We growth growth local currency, local mid-single in

XX.X% administrative XX.X%, income last last first quarter the compared XX.X%, quarter, income for up and the with same down for reflecting year. the billion margin, statement. quarter compared with for General to was the XX points expense compared XX.X% basis period first last same QX Sales the was the marketing last expense X.X%, compared was year. quarter X.X% for year. operating XX.X% with for $X.X the Moving a and Gross quarter margin year. for was Operating

year This increased comparisons rates tax these following EPS recognized in $X.XX. and EPS we year and investment which 'XX, recognized a the our The As in impacted by reflect exclude last increased impacted we’ve fiscal by impacts which again gain results. an rate QX, investment quarter. reminder, adjusted in our tax $X.XX gain and

effective Days and days equipment of activities operating work billion, $X.X days in year. cash the last adjusted XX QX rate adjusted resulting earnings diluted the earnings property and of to was compared per an $X.XX first compared quarter for were tax Net adjusted generated share flow quarter for quarter XX.X%, billion. XX year. compared XX rate last of by of diluted Free for $X.X of outstanding effective tax with the Adjusted $X.XX, $XX last quarter last for Our cash quarter days share per first XX.X% of was with service the from million. additions of year.

return dividend Our of regards $X.X $X.XX remaining. repurchase Also August year. At repurchased share at per in $X.X in February paid With cash November of paid an last over million ongoing year. $XXX or compared This increase XX% X.X cash to quarter, total November shareholders. per to was price XXth of $X.XX for a average authority In XXth, declared for at we a our we last to billion, a dividend the board our XXth, we’ve billion of XX% X.X the shares share share be objective cash November, And $XXX increase cash of first represents had on million. directors redeemed balance with million share. billion to XXst. $XXX.XX approximately a a of over per quarterly quarterly

'XX. very So, QX in we to with and a off we're summary, pleased start our good fiscal in results, were

Julie. turn to let it me Now, back

KC. Thank you,

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cloud. the that's So

an more Atlanta-based expanding of and returned and that the The drive SynOps talent this firm, growth to more sales our Now growth AI X,XXX Enterprise. diversify smarter, which specialized this sales environments. helping platform, and power Accenture's transform machine invest depth operations in to virtual ability BXB in unmatched NX, than across sales Accenture. comes their with operations, interactions shared engine are Operations our that and double move driving breadth industries, In welcome combined efficient enabled true clients an us services were let's at learning enable platforms. a leader to to how Last enterprise are digital we cloud-based Halliburton together of technology. a Halliburton, digital and leading we industry, transformation the wide quarter and by by as-a-service turn functions operations reducing helping provider products to energy enables we in quarter, employees continue to by clients to with excited broader the and across digitizing and increasing value agility by digit digitizing we powered an to cost. to have family We the Accenture quarter, to our global innovation footprint

digital improve Halliburton's functions support service Halliburton teaming outcomes. business we chain supply quarter, digitization announced levels are manufacturing transformation, we to to with and and its that accelerate This within

In will which SynOps transformation are double in function, We supply manufacturing see COVID products cost digital We fiscal X its strategy digitizing is accounting and digits, and year as deepening consulting finance disrupted pressures. and need In QX. expertise. billion low contactless $X X, Industry and and of Halliburton's creating approximately use part we greater chains leverage with to we 'XX, and which grew our continued intelligent in world a was and of already platforms. manufacturing and the Industry transform operations

across and to One model while smart operating of enabled equipment we the CNH products capital goods enhancing construction global vehicle and digitally improving the security develop latest wins are Industrial, will our revenue, workforce sectors, agriculture, the services with of where that connected grow and sustainability. manufacturer that and building commercial a

Finally, around due new next the employees. and trends our experience, citizens a patients, due let's crisis clients customers, to and all In experiences. disruptions up look at travel on and impact is being industries in the of interactive, the which their had about generation focused ways of the engaging business of severe experience retail, to rather shoring than of businesses, their like significant

saw This creating FY'XX digit focus HX single growth building with a new low clients digit as in on of a single new the quarter decline momentum experiences from return low we to in environment.

serving purpose, our For growth I that to this our a our and $XXX example, about XXXX. take we Retirement age billion to for brand move moment Services retirement and over clients, the the In retirement launched campaign a with another team strategy DrogaX and plan digital new family armed members talk Board XXX-degree quarter. the with bold new Investment value by in a assets. services joined Accenture deliver in to to own to for we reimagine Federal October, improve created customer services want of employees made working simultaneously our a civilian experience million Federal is savings X.X the Thrift

ingenuity. the of new is Our and human deliver on promise to, technology purpose

do we Our purpose uniquely and strategy bring our to action is to our growth is what life. plan purpose to able are this

achieving clients reskill sustainability to business At Our and their transformation, case responsible see to deliver demand XXX-degree with client the goals. this partner their in progress business value where employees value define responsible work our the we response experiences greater XXX-degree clients achieve value We clients by strategy strategy for and of our a to diversity, possible a goals. unique for and our to to maybe and seeking, financial is into and on our achieve to as embedding own delivering direct design heart addition talent operations. help the striving is inclusion business rising

in purpose you ahead. Let Our our all. helping our Change, new for the and of a reimagine of to and differently the expertise. Over benefit better brand, depth for KC, Accenture's Be purpose, and brand Together, Accenture's reflect captures There breadth role strategy rebuild look companies and unique

Julie. Thanks,

that including the in of into quarter, well our last you are our outlook, recent to the there business most of I the to get not I as of and be pandemic, the remind I able would Before number factors recovery, the a coronavirus given filings. those accurately did as may pace impact, that duration like described as predict, we magnitude quarterly

that let with turn to Now, outlook. our said, business me

reimbursable quarter This 'XX, fiscal expect billion For second FX about to range the the a billion. for over compared positive the continued X% will of percentage build X% we of currency fiscal estimated X% the entire in quarter The range an QX our $XX.XX in revenue be X from impact of business includes reflects of reduction revenues be the 'XX, a reflects costs. QX. second to to assumes and back points $XX.XX from in of travel approximately and to decline of local

the fiscal dollars full now rates last be approximately over X% weeks, impact results 'XX. few fiscal will on on the of been our compared the to For have year trending the 'XX, FX U.S. based expect how positive we in

X% year. currency local 'XX, on based the decline and a first-half For approximately impact material we a fiscal expect X% the reimbursable from full of fiscal of the year negative X% our range the X% growth in the no reduction revenues now in to in of to including over from 'XX, be revenues second-half the in in travel,

basis to results. fiscal fiscal operating 'XX to continue XX expansion margin, we For XX.X% XX point to 'XX be a expect over XX.X%, to

to our in This tax rate We of be 'XX. of fiscal in adjusted XX%. rate adjusted an continue effective effective XX% to range XX.X% to expect the tax compares to annual

fiscal For XX% diluted earnings diluted full or EPS to to range adjusted expect 'XX over adjusted X% per results. range $X.XX. We to year in to be growth the the for fiscal be to in share, we full EPS of year now $X.XX 'XX $X.XX of expect $X.XX our now

For the full $XXX of equipment cash $X.XX 'XX, approximately in expect fiscal free to cash million, we now be be of to range billion billion. billion. and operating and flow the to flow additions $X.XX $X Property be billion $X.X to range in the to

Our reflect guidance flow flow ratio continues free net X.X to a very income free X.X. cash of to cash to strong

Finally, to we up least committed let's it a can that, and we questions. through of portion open repurchases, our cash expect $X.X at share so continue your we to Angie? to as substantial remain take dividends shareholders. to billion returning return With

instructions question. Thanks, you Operator, keep you those ask many would as would to a that on participants KC. provide and possible each I the ask as one to a allow to call? for question follow-up

question Instructions] [Operator comes MoffettNathanson. line Your from Ellis from Thank the go ahead. you. first Please of Lisa

happy Good morning, of guys. holidays. ask and two I front. my all just to right up Great would you hear

utilization and you've reported number that in is quarter, at years. the back peeked Looking more the the highest I than XX% XX in number

And kinds labor the utilization that you're affected to that levels of are basis point Thank guess more be point the going a one work come is constrained of forward? also questions, Or remote that. travel Or number ramping and the two on kind KC, maybe going costs? in in to more higher question. the can more and increase being of one with be primary the down margins? to driver the So XXX strategic related bit? expect shift hiring by first, these that then I structurally you're getting and gross was strategic you now I reduction guess, will That's so higher we utilization for and you. should numbers

Happy Okay. Lisa. Thanks Hi, your for question. Holidays.

start first. maybe So with your second I'll question

margin. Just on gross

were to margin a that. there So expansion we drivers gross in and did few have

contract contract And is from was profitability, this quarter. first we profitability help does contract so profitability The did up lower in our overall. that travel, benefit

margin. is we would benefited see have that higher say, the first also that So do thing utilization gross you well. margin fact And the our our does I help as gross that

pretty those parts driven our of when of this broad over was quarter, and quarter. were in And QX by that obviously you and high headcount included that did to was did a have did our summer, very margin. delivery We click up both recruit into drivers continue we in can throughout look It also gross of revenue. see points the you this at So is utilization, up sequentially. that productivity based and our

kind no. And so we more And any really working is to answer which of still And on, of normal quarter. all the do your were We from and structural don't think kind see a at into ease range, looking high a productivity, issues demand just meeting very able to there attracting point is remotely, but talent. going is change to back get productivity our out this that's levels. continuing these we groups of of forward, not more

you. Thank Terrific.

ahead. comes JP Please Tien-Tsin go the next question line Your of Morgan. Huang from from

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ago? thought consulting? for Or you confident just is do the strategy in maybe and versus changing that? the what of So composition on outlook thoughts feel Any you more XX work days

Yes.

and just drove So that impacts Tien-Tsin. QX, HX and bit our performance a me talk how about over view QX our let of in little what

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we to And that from lows in really with So back range. we build pleased be continue we would land of business HX. the anywhere our that

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compared sense QX for gives HX. what had the we're ago. outlook in in which how days the than ago, to But in we performance same with So outlook XX our stay now business a pleased QX improvements obviously, and is hopefully XX the that very of see days from you we is

color me bit just you -- script. my because of about give this from little kind a the more Tien-Tsin, And let is a little clients’ I talked what perspective, and in

technology going now continue. it's see you And see say going If is to two are to business the said technology the calling early I'm the we more companies understanding remember, hits, kind of business what you pre-COVID transformation lifeline. transformation, change wide. on of is the truths COVID we companies broadly. really and Every And is world. becomes a you speed. to where why we're technology were transformation innings about continue we our compressed just now take exponential seeing this with of this And the decade in beginning the of the enterprise

Takeda. sure So cloud, they're their getting look improving making They're near-term and the at both that the example of to moving data value. business

You take supply finance, cloud, chain. a Halliburton,

So there's now. nine months this speed confidence. of change and we We're see that in in the

and help where context of industry some other because do cost in reduce position, the some were them and across back XX% we're in part the interdependencies. people that a costs is and up that on interesting, of crisis, get investment in changing pressures, decades The surveyed a understand has they digitize. unique were this time, company and same the in in operations from we're And view, And the of footing, there of us give them And finance up was nearly no continuing the the because running. our that in this then of planning simultaneously May. of though, of can and and to in we put the has happening, in function getting is migrate all July XX% And we did chain XX it's reduce that and important supply And the expectations. is decade faster. multiple investing Accenture helping said need all their company to their research very this first this which At cases recognition that to just that, cloud markets a what's executives to getting see transformation. digital their from

And breadth scale process And been these get the where and capabilities literally we the is years. years and You building want to matter. end-to-end have this for change.

the is clear. It set and answer, appreciate seems guys, it I like sounds outlook you. here, the well very for Thank here. complete pretty up

of next Goldman Your Please go O'Neill the Sachs. question ahead. Matthew from from comes line

my first? down XX the side, earliest of days think into move cetera, First, to one's bit investment, cetera? an is lot I mirroring et and remarks understanding Accenture demand that you potentially there's understanding, fence Curious, to catalyst drill business And from most cloud, $X a we thank et Takeda, client of sort where seeing a greatest the broad-based, for that where billion you of for deeper get COVID-driven in need just deploy fully the think the to it's anecdotes digital of I kind much around sort the identified Yes, on coming and Halliburton, hoping et taking become off I you're a cetera. little immediate question. the announcement. Cloud was so But prepared could since formal the

Sure.

for Matthew, the So, thanks question.

few So companies faster just to maybe let's cloud. having reasons. And there's first just a take, accelerate our start why clear to the

there's a the there's all, immediate and cost there's they move of first because the to in of to savings. savings kind that get when pressure, migration cloud, just So obviously

and the the cloud vulnerabilities through this Second, can matters. estates. of compounded, current has surface the is of in then particular, The that the threat course, more exposed see environment on important really expansion by premise remote crisis lot really been that a of And in security. you for resilience why And IT working. the of

and I really enable immediate of data of is rapid say important need is the What resilience power security driver the to cloud most for cloud the that. as do transformations. would to acceleration the so is And to the probably need and the an driven also the the

you and saw And where consulting about strategy very actually the helping order to value. business have value. experience, how I Accenture the what customer and access to that are to to which here's they're to and I is know of business first. example And near unique, among cost is so do is patients, And deeply be all because the we're which the able the clients that that. changing the our you time reason not requires is early industry, gave, think what understand workloads that the it's where this And resilience and important, the very go data simply in valuable to we so capabilities get is unique go data personalize about data and to cloud customer, also the and with in real Takeda, security, is

our once, capabilities it so, at by wants why by changed cloud driven And to and transformation important, management, because, which is way, is at higher are thing. of talent in the around around really these this everybody go talent all things leadership

saw we critical. so, in which enough it's ability Generali going the to each you these available Takeda gave a not that in be of our to script And reskill, to also examples like and is

picture. sort big of the So that's

They markets about going of were part talked in this and XX four about did about when of were we were building quarter, Now, think the markets. cloud. three you for in where they each investment, in we're most our we do to scale acquisitions more them

about well capabilities. acquisition which as scale and around component so, think markets billion, be of big we a about the as And the strategy niche will the it's $X as acquiring building world

assets migrating in digital a out that industry figure solutions will area that to in to the the that clients you fast kind advisor second and Everything is to we creating figure talked the move of repeatable The big quickly. $X clients allow more that help have carbon, get to and of though, are out that diagnostic like value cloud. creating, our a does myNav blueprints about, benchmarks the from strategy helps what investment that asset we're billion to navigate how more the and reduction the the on of that manufacturing to with

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building for decades. been have our strategy and consulting We business

been for of decades. all to these adopter And comes have an when credential our early it let's best not cloud own We for we're capabilities. forget,

quick more for as Accenture is and broadly And acquisition wondering thought just like of part not things known that and there's new or was and opportunity DrogaX you cross for here? Interactive. That's DrogaX a suite more to comprehensive follow-up, they might have really maybe that present I originally of interesting. clients first and Accenture significant I mentioned the the more assets foremost. sell script guess, sort a a the helpful that Is and and of both equation integrate curious, upsell as you in if existing

doing But we in these Absolutely. are Interactive, via like best And again when them capabilities services. what for embedding all work and own you Accenture is credential. brand our we're our amazing think like actually purpose our bring work of about ourselves

talked customer. that quarter, Again, way come about engaging how way researchers we clients different the is we the the that are was us for in and of fundamentally doing part with a Norway of a last to when going they're important Our engage. with you a experience Prudential it. about think outcomes example the Takeda, about of to the donor, with really different work engaging

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Thanks experience queue. Really the of in about outcome. context so in helpful. Thinking and of that I'll jump sort back much. the

from Bergin next Cowen. question go Bryan of Your comes line the from Please ahead.

a anything conversion can the Thank morning. larger prior curious relative bookings wanted last pace cadence just And year? pulled had of outperformance you're forward seeing these considering the on bookings. still in engagements? I and building good the do how your you pace you. expectation? comment Or anticipate quarters. transformational you there on to two I'm the Was bookings ask to for Hi, you've

pleased were quarter. this really bookings We our thanks. Yes, with

well, you and as mentioned, grow QX years. mentioned they we I XX%, and as the last pointed have than did just we I stronger in did As a had out, two

which a driven because it's demand, It broad-based. about very really was was back again, really which talked the you peel X If we've that security. lot by cloud, also Industry

aligned priorities. strategic So also they're to our

it, when bookings, at you base, If type in the at what broad strength of by you drove it look work. again, look

represented, very bit there a XX strengths particular we outsourcing, in was that quite what booked a work, consulting nice were within too. groups they it our that We type mix, I is industry have of up outsourcing in about the really clients $XXX all by strong as with million, was well as over that five liked were book-to-bill. But,

our So services, look mentioned, again, we progress X services, it book-to-build very and points that highlight X.X again, I to quarter. And at to in tech strong. just in surprise are the no with based had on they And the pleased very you if again, security strategy Industry broad-based. cloud, I a and want consulting,

very the through, felt question yield of and our particularly as large pleased. revenue we you're smaller if feel across do we they all sales, we see to ahead, current quarter. relates way about deals, the in all were overall, strong we the And deals, So, bookings good really And did what parts our it more of see about bigger to the pipeline. conversion revenue that our taking on kind in or yield but

the duration, true. of are not in at then you bookings So really have when services -- themselves And the it's more that changed, the see you duration in that's really also mix. the that it's our of as look

and we to coming shorter strategy consulting online, a be of tend as more duration. have So, bookings they obviously

each within of of mix in quarter. So nothing's duration services. It's each of changed the individual our bookings of the really really more the

Yes.

very a strong And so quarter next quarter, nice, in bookings. we very expect

years, earlier are X, to interactive expect curious, than So how market? operations you Okay. around that And today last engines areas. growth as growth then is consider the investing of not those engine? and also new have here you you drive rotation that critical here, a engines. the interactive that those grow faster relative Industry several Cloud competitors those above to did thinking From have the the enabled special before? market. First do specifically, are just anticipate that you I'm you've than about And they in doing I'm now and so to just had businesses over competitors heavily

great Sure, question.

decade, investing very is a let to been start me in with, have just we So cloud hard which replicate. for a

business is so that $XX And start billion digits. double with strong we a growing

take critical leading there. share decades players. would we to where with to in to our our we acceleration, the continue moving experience of ecosystem relationships to workloads, a you rapid So this you're because And continue world's and and have differentiate, mission technology of expect expect market environments, would

So Industry COVID, time, continue is we've And space. X to next the disrupted. you we've over that some be talked the think Industry the The big to investing was signs for about will the next Industry we X, years, more newer the about to need early X in enterprise you concerns areas, a what as Interactive. of is other that contactless we been accelerate a of for of supply operations part as we're can like, of a some lot now time. that still cloud digitized it's But being know, in manufacturing have of this like about going and seeing kind trend. now Think the a and manufacturing do have because couple way, was health in chains been Accenture

Industry And is is be the to X the engine. that time signs for are so early And be accelerating it's said, well. growth we have likely going next as some to

big play And remember, we to have how is out. three growth platforms. see I continues that we'll Accenture an Interactive So engine. ongoing mean,

which move business cloud, innovation the then the data value have top. the and has You on to the

everything it's comes. moving just that So there, it's not

into to that we're what on This doing. are you're that where value move, it's that our create to data the unique of and journey. examples depends but so XX% the the you it's seeing early innings, cloud, And about is ability in business just on access an the not

of So platform that and waves is for waves an ongoing growth. instant

operations, move what our talked platforms in we operations around today. about business, like our IPS to to second we intelligent everything modern digital being The do ability

that, innings will continue operations. experience business evolve. of in the that that's digitization of Interactive, then we're in So terms And always early of business an to ongoing Accenture again, to provides the have

see starting that building of COVID we crisis, impact out so, we're And move the the momentum. and of to that

of have engines make then growth that scale for for this X, and will up finally, achieved, where engine. can't and all capabilities. is we've again, this creating to We you data, because expect the we've years once you to continue been And to not continue quickly be investing to area for us. and a mention that these And be Industry of security growing which

you. Thank

next Bryan ahead. Keane go question Your of Bank. from comes Please from the Deutsche line

there's morning, Good in Did And at been a did kind solid results. be low and there. fourth I on the do before that understand on trying to kind of in move ask like it's on weaker given business guys, during trajectory the the I there. single, does questions of just wanted Interactive, negative it quarter? up Interactive, a to here? then turn looks it What and lot it congrats it so now even would hanging know it's of of growth? slowdown from kind

So was year? to just quarter expect trajectory the of curious on you last where throughout it the it and kind do what

decline, a momentum. low single digit was months, in each we're in growth now and of it so kind Yes, two whole so rate. a positive And six building a it's low

European So, digital sales, for helping things. bank big a with their example, we're new

starting So to now everyone's with reconnect experiences. kind new of

growth growth that we low And on then rates? that rate on the in double other for about see accelerate as right growth, when Or digit is into we the that, back-half priority get just it. strategic the security, Got does the too? the pickup also

pleased double I we're on security, digit think that with growth. about super Look,

to-date, going be that digit of growth to flow. the be Thanks. low trajectory. So, consistency has to been or whether the continue But to in ebb it'll probably and and that double we security it's impressive strong, see

more we Operator, Great. then for and the call. will have up question, Julie time one wrap

from from comes that Okay, Morgan James of go Faucette question Stanley. ahead. line the Please

perspective, expect some to much. those From that And targets what in we you a valuation kind current coming areas year during fiscal contribute or what you're should this you to wanted more year mentioned to targeting from you're the and of fiscal specifically? for M&A growth perspective ask, Thank you the how beyond? you and about little very year. bit a spend I can have a seeing talk

Yes, thanks.

through. our of year, change So D&A, our spend in our to billion strategic priorities $X.X out no year. the and really of to there's the we the started we at least we And additional all expect aligned X% at went it's of a this for of beginning of to what growth revenue expectation that lot terms

do future? said realized project kind And wondering then look consistent into before. thinking and about Just this capital Accenture? right trying of just what that in that's peak you've the of we to think for allocation. I that a of think But Or level that we should how to you I'm the period? grow? should Thanks. then with expect acquisitions Is we're part about that Or

Yes, sure.

So we've opportunity always always flow to to aimed the in our XX%, more cash D&A. But operating should of capital for XX% arise. the do to continue had ability we've program our allocation have we be and around any ability

allocation. we really there's of So view no how to Thanks. our D&A change capital

Thanks.

Great.

strong trust. shareholders continued And globe. with our thank to all your very incredible again We're you healthy everyone, and pleased joyful in you our So a thank across for today's joining the on to Best start us call. 'XX. for holiday you, safe, to wishes season. Thank our for people fiscal

using for your your today. Thank that conference gentlemen, and and does for for you Ladies participation conclude AT&T teleconference.

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