Accenture (ACN) 19 Dec 242025 Q1 Earnings call transcript

Good day, and welcome to Accenture's First Quarter Fiscal 2025 Earnings Conference Call. [Operator Instructions] Please note, today's event is being recorded. I would now like to turn the conference over to Katie O'Conor, Managing Director, Head of Investor Relations. Please go ahead.

Thank you, operator, and thanks, everyone, for joining us today on our first quarter fiscal 2025 earnings announcement.

mentioned, O'Connor, just of Director, operator Relations. Investor the I'm Managing Katie Head As you from our will Chair call, today's On hear Executive and Officer. and Julie Officer; Angie Financial Park, Chief Chief our Sweet,

hope issued short we had news a opportunity review time to We the you've release ago. an

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

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

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

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

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

the turn call Now let to over Julie. me

strong world commitment thank joining, everyone you resulted around XXX,XXX fiscal our this in year for quarter our clients, our which results work to creating in pleased and of and am strong financial position a extraordinary people strategy their XXXX. to Accenture to Katie, you, for nearly our and all Thank we performance value our for on I as growth quarter with stakeholders. very XXX-degree delivered the

we the of Here are value few highlights XXX-degree created. a

$XX.X which of Our partner $XXX reflected and $XXX end share. our in billion, currency of rolling XX our billion, X-quarter guided reinvention share We global top quarterly their a this to than greater to grew transformations, approximately as and $XX.X is our bookings choice take calculate including X% clients revenue we of prioritize large-scale local bookings in continue million. basket the continue million, clients how market closest quarter traded of on competitors, against publicly are we with basis our range, with of market

We had compared another Operating million adjusted EPS. was XX% milestone quarter over revenue. flat bookings $XXX to and in GenAI in FY last year. margin EPS with grew margin $X.X QX adjusted operating in 'XX billion approximately

AI reinvent people provide This hours X and our by workforce quarter of person. our our to goal of to services million per increased across primarily GenAI. and people skills While our with million and XX XX,XXX, to XXXX. deployed help averages marketable invest with year against We business the we bring and data end with our fiscal progress acquisitions to in clients, technology in our solutions hours approximately designed latest us and this XX continue $XXX training approximately continuing our the using XX,XXX

to having #X. proud on is workplaces, This best Fortune essential world. from are it our of part from is around the based is the by jumping We strategy access be #XX. world's to our as to proud An $XX.X increasing Brands ranking Interbrand's brand List, the an brand, highest best critical of Global our one attractive feedback important is to workplace as value recognized date people strong recognition to people billion being are to of success. to our And recognition prestigious our and and on in earn Best #XX we

We continue growth and on. communities, maintaining thriving long-term in invest our to depends creating which

among quarter, NGO to skills help in Proa [ low-income to Instituto transform the workforce. Brazil with the with providing enter ] has Accenture -- the things, This digital by partnered them other lives of

very return to to our I our pleased reinvention growth to this results quarter our of strategy with choice. our partner am and due be clients' broad-based

We consulting model also services. clients have business of and the industries type diversity managed a for us work resilient across of and come with our markets, types to work both

Over Angie. to you,

time on happy pleased with to call. and our momentum all business. We reflect holidays today's were which for results to Julie, exceeded you, the our our in you, us thanks of and and first expectations Thank across quarter, taking very join the

reinvention results, will cover in I for are on our first the revenue partner We a our service, year are trusted leader later strength of a are and clients. across revenue as market our in industry in consulting we our groups, markets, with . Based geographic particularly managed broad-based we the demonstrating strong call. pleased full our growth, increasing outlook, which was which quarter and detail more

QX by quarter. and people a delivered ] [ our EPS begin highlights the investments in growth take Revenues me reflecting let industries quarter with market business. We share. of we our end includes in our EPS grew summarizing last the and X consistent XX above our last double significant to guided continue year. growing divested the currency, in for local margin in XX% the quarter, year Operating and range of was results So X% adjusted of over $X.XX, few XX.X% top with digits,

billion cash $XXX dividends. flow of delivered to we through Finally, $X.X million shareholders and repurchases returned and free

also We $XXX acquisitions attributed in million to X invested primarily quarter. the

with of the turn me high-level new those With let details, starting some comments, bookings. to

and quarter, bookings billion New Managed of U.S. bookings Consulting of bookings both currency X.X. growth in X% local with with were with an the a X.X. billion dollars of book-to-bill billion $X.X for book-to-bill were X.X. overall representing book-to-bill $X.X $XX.X a were services

for local the were was top our approximately in a were above in application provided estimate compared services, high X% X% $X.X double-digit to X.X% The driven impact U.S. million $X which includes end X% now guided the the dollars Consulting currency currency. by with managed currency, increase were services our quarter single-digit for and quarter quarter in growth both approximately dollars Revenues in XX% in X% and billion, positive positive revenue local X% U.S. of range. Turning and growth quarter. up $XXX technology managed revenue. the in and $XX.X dollars up billion, operations. foreign managed and services the billion, exchange last local in services U.S. revenues Managed infrastructure for

growth by and offset Singapore in of United driven Italy, was partially in which local and natural In Asia by chemicals by by partially the EMEA, growth a geographic by & goods, decline grew local in Australia. XX% decline the software and & services. and health, revenues grew half the growth in utilities, was industrial currency. Turning In we service, revenue Capital travel Banking a to Revenue our States Growth markets. Pacific, growth growth Asia partially and consumer led offset Revenue offset driven by Pacific, in In and by led retail Argentina. approximately United Japan, health, resources. in industrial, Kingdom declines decline platforms, by X% Americas, represents Markets. driven and and by and public France. by local was Capital in Banking growth currency partially offset in revenues was delivered sciences X% in currency, a life led Markets Revenue

General quarter was the first the margin and for compared administrative XX.X% year. for quarter to last income first the Moving last expense was and with XX.X% the down last Gross marketing the X% for same to quarter X.X% compared statement. Sales the quarter year. was compared XX.X% expense for quarter year. XX.X% for

Before which by QX year, adjusted EPS basis want comparisons decreased these costs operating impacts business margin results. I of XX and I points to $XXX that and actions, note in continue, $X.XX reflect in million we optimization our with by associated following last exclude recorded

consistent first the margin $X.X quarter, adjusted operating was income last of with margin, year. Operating billion XX.X% operating a QX in reflecting in

Our last $X.XX days compared of first last net for quarter of XX quarter quarter in resulting earnings year, effective of for adjusted with compared growth quarter days year. last Free XX% the flow the $X.XX from QX year. the EPS services $X XX equipment for XX.X% share year. Days XX.X% last quarter first cash rate outstanding were of effective in first cash billion, and with property tax adjusted to million, rate per last $XXX days were additions of compared was the XX the in Diluted activities over EPS generated of quarter tax and an million. reflecting operating by $XXX was

XX our of $X compared at balance August debt completion with at billion November was $X.X the billion cash offering, our $X Following billion XX. inaugural

an repurchased the average or objective to return ongoing per to our $XXX.XX $XXX quarter, million of for at to million regards first X.X shares we redeemed shareholders, With price share. in cash

authority a $X.XX per billion paid XX, approximately declared over year. for to year. of repurchase per last paid be November had we a on we of remaining. November, Also $X.X As And share XX% dividend $XXX our quarterly increase dividend quarterly Board in of cash XX% XX, of million. Directors represented February total share a This a of over last increase of $X.XX cash a share

we and FY in are very summary, off 'XX. we to with our results, QX pleased start a So strong in are

to let back now Julie. it And me turn

Thank Starting of same. with We more environment. saw the demand the you, Angie.

on transformations. to in see We overall by are improve, focused currently means clients, we clients particularly capitalize as those will them Our spending improvement clients to our programs demand smaller deals. well on positioned the prioritizing. meet When are the which for large-scale be our critical on conditions market we reinvention, do an not continue

necessary digital and reinvention increasing of on growth be we're growth. of was strong GenAI reinvention the for this and the enterprise seeing. across both foundation around core the the quarter. a required continue is out capitalize demand for driver continues an that data a building building expected, Themes efficiencies As growth cost part AI to strong our achieving across to catalyst

can partner technologies well our relationships like from GenAI as value to investments to QX, platforms are our strategy bringing Through the ecosystem reinvention of our services, drive Wizard see the our in both and you choice Gen like we and together our cutting-edge for and clients. scaled how SynOps be examples as

journey helping our working to including can personnel cloud bridge complex maintain the environment their growth U.S. core, monetization competitive Force, quarter. nation's in air Services military Accenture is manage clients IT double-digit with a Federal their which military on so that build its digital cloud, are this We edge. the the service Air saw

multi-cloud secure will services technologies. products robust, cutting-edge devices from will work and to multiple different systems using ] and together to communicate create ecosystem and This We [ tools a and infrastructure. -- integrated develop a quickly implement enhance

enable foster provide quickly personnel while usage and cloud their services about adapting to also decisions mission that We collaboration data-driven managed requirements. costs, changing and make to

their of increased out enable the real-time improved investments will accelerated cloud Force to partnership get most agility. cost This Air efficiency transparency, savings, cost to U.S. and achieve the cross

Our core. industry expertise is digital critical to right the building

group, We XXX partnering Group with largest to banking venture subsidiary the IT are help Italy's its Ikaria [ through with joint a on ], over a BCC grow. reinvention journey banks affiliated cooperative

cloud, IT the quality. services and platform managed migrate will enhancing Our to resiliency, and stability applications modernize the service

We internal customer IT efficiency will cloud for analytics also GenAI an digital digital their advanced applied on strengthening core. platform and integrated build reduce and time consolidate increase will AI, response be interaction data channels. and to

to upskilling change digital opportunities innovation, enabling will offer employees faster. will our using drive and solutions. BCC ensure to shared new costs A more the targeted Together, competitive services be effectively. will help reskilling and and expand communications to offerings, payments and we program technologies management market methodologies finance Group new suite employee group We onboarding use bring and banking services products of and reduce

very component digital strong every absolutely Security company's again essential double-digit of saw and core, growth. is an we

of in industry threats because threats of the We the industry-specific with partner our experience are both groups. across choice bring and understanding deep we part cross-industry XX

and its aerospace are supporting on production and infrastructure systems. critical defense manufacturer leading and a We aircraft cybersecurity across

provide and assets more and leading extended solutions will services design a industrial We their and managed enterprise. secure by to cybersecurity the in capability, program, powerful for security bringing

improved security provide regulatory meet help will solutions compliance. and Our

double grew helping We and with X chains. manufacturing are digitization of this supply quarter. digits also the Industry

to continuing tire leader factories with innovation. in our We to market and to revolutionize new manufacturing global time for to way evolve products, operate -- long-time are a partnership the accelerating

hybrid a cloud, millions data points. data of build will We integrating --

optimize quality This will instead to such the impacting advanced trace We minutes what a will processes to predictive enable process back their And parts tires machine in implement failed of maintenance company to will or preventing digital of process AI quality machinery productivity, a -- of batch also cause or may days. and downtimes. pinpoint be technologies root twin as and checks. the of analytics, operations

-- will from machine optimize to teams the learning it of tools products. generate Engineering and design and new simulation

look ways XXX are in and tech-savvy upskilled where new remaining digital-first to in working all AI-powered strategy, increase the over will market. on implement tools. talent growth of employees a cultivate the attract their culture support and while The to also learning We factories company opportunities competitive

lifestyle in We norm. where are for distribution market commerce is will and a leader highly in partnering ever-evolving products supply customer with Puma to meet becoming chain reinvent sports order delivery India, a quick the demand the network. their omnichannel competitive This

to with faster more We will expected twins identify delivery help use up based order centers, redefine bottlenecks. of process will up and This identify efficient data simulate optimizing online layout Digital to will fulfillment and flow for size and scenarios facilities processing, physical automation material on delivering double. and localized these designs AI orders orders their to various XX% warehouse set for to and return express improve customer location sales. and

costs chain model, growth. to EV solar region decrease fulfillment enhancing will the future to stations by additional at will this features Puma brands reduce India amongst sustainability cutting-edge first build to of in expected the and type up further customer and centers operating are be power support goals. XX%, sports loyalty and Supply to also charging like costs drive

We through digits high are Song, reinventing this quarter. which all things grew customer single

tech We unlock while our have marketing industry while for clients integrate and expertise efficiencies. to enabler our a leveraging growth data and delivering and creative the as AI, ability operations to strategy

by optimize it efficiency to finding We its drive as are helping globally. business scales Spotify advertising opportunities

services managed under amount a across operations revenue [ significant their XXX single ad operations kits Our a ad their touching support roof, ]. marketing of

campaigns, market operational more them and automation ensure reduce infused across to advertisers' the revenue getting significantly advertiser effort quickly and their We've workflows help to satisfaction. to time help to realization required launch

across data and We ad launching capabilities support and new expand enrichment, more. operations, integrity continue and beyond insights, actively to customer analytics

and Our market. its to competencies in growth Spotify increasingly partnership on relevance helps an focus it competitive can core achieve long-term

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real from countries. And across GenAI and value we creating are industries

platform its We and goals. and applications Brazilian promote with to environmental licensing, are with [ program, scan end-to-end and reducing materials environmental environmental This from partnering application studies to summaries permit smart reviews Vale ], internal requirements. creates document and We management uses compliance a licensing up mining its that sustainability GenAI logistics company days regulatory to expanding minutes. lensing actionable created to transform an speeding

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subsidiary, with Linda a We of Indonesia's their This leading IT company and data ], digital telecommunications its AI-driven digital key a the the by country's support empowered vision financial transformation the and Indonesia's XXXX. solutions of digitally collaboration one of economy. for AI will pillars services becoming initially country's sector, focus cloud launch communication, will Sarda AI sovereign platform. partnering Indosat, services and [ a The to Internet of on accelerate first provider are nation

platform by scaled will growth companies that to refinery will have GenAI, competitive This to the power with efficiency AI a to journey, reducing wherever scaled they are solutions value. in sustainable clients' AI provide operational drive significantly their help harnessing of market. capabilities innovation, AI propelling architecture Accenture's need Indonesian modular a and in partnership reinvention meet prebuilt time

top at agenda their and position to managed continues in be to help of able governments, and Talent be to our the Learn CEOs for the workforce. services us invest clients

adopt to curate This evolving their employees deliver Our productivity GenAI revenue leading includes partnership workforce nearly learning drive customized growth. Accenture program financial skills, ratings a XX,XXX and with industry's talent address their is empowering with the GenAI services enhance GenAI content to the provider equipping the They analytics scale driving a and Services, across industry, are leveraging Global, program. comprehensive financial and requirements. of and innovation AI Managed at necessary fluency Learn S&P data, of to

the continually the our Finally, at continue To a in and drive network telecom in Solutions network operations growth. the in scale look to space. tailored Award future quick IT Managed, leaders, our unique of our professionals how Learn using which offering investments we're acquisitions performance U.S., the to engineers and to we Learn expands needs acquired

acquired Consensus market still positioning scale the the approximately care is to $XX our several faster health early we an [ leading management continued us and enable growing health, for digitalization ]. German a in Health investments see us Consensus addressable years. we a in X%, billion over growth are Health consultancy. Health, To industry next

And and supply to drive to digitalization, in growth. early chain continues to investing we continue be are

we quarter, technology in Camelot, a specific in analytics, [ strengths chain U.S., consulting Group Germany consulting chain, utilizing firm distribution acquired ] with and focused data center and an performance. supply supply Tree management from firm SAP international This the and in Joshua

Back you, to Angie.

Julie. Thanks,

business to let turn me Now our outlook.

to expect the quarter will 'XX, For to be 'XX the be reflects This the local FX an of negative assumes estimated in in range X% about of growth X% billion second impact to we of of the fiscal billion. $XX.X fiscal $XX.X second and X.X% to revenues quarter compared currency.

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

the of our more a fiscal the 'XX, an growth expect acquisitions about in half to in continue year. to to will which now and we expect includes X% range X% in fiscal X% contribution be which we invest the half. local second X%, And we $X in expect For over than about bit about the first inorganic of full this revenue to fiscal X% currency billion 'XX, in be

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

effective to We in We be XX.X% continue rate adjusted compares year XX.X%. full our 'XX. X% outlook to be expect revenue This adjusting expect our of share to $XX.XX, for rate $XX.XX tax the to tax X% results, of to over range per revised XX.X% 'XX of and raise range now reflecting 'XX adjusted in in the our an fiscal FX in the or effective to fiscal to earnings the for fiscal assumption. diluted annual growth

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

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

continue remain and our to $X.X of we Finally, our cash shareholders. repurchases substantial to returning as dividends to billion at committed portion least through expect share return to we a

to Katie? questions. With that take open can that, your so let's -- we

would provide Angie. instructions Instructions] those [Operator you for Thanks, Operator, call? on the .

Absolutely. Today's JPMorgan. [Operator from first comes question Tien-Tsin Huang with Instructions]

revenue guidance to It's the range. come the really see encouraging above in

is the nearly demand said widest Julie, think I same. that years. less the margin environment it's you X in more or the

comments? what curious to are [indiscernible] I'm underneath market new maybe So here. Any and improving if this you [indiscernible] conditions

-- our particularly number few -- on spending, for were This been the in -- a strategy outlining really where we winning saw that the on million increasing focusing the deals over is deals, quarters, the $XXX getting we reinvention of smaller that pivoted we've so Tien-Tsin. year, last more Thanks, last quarter. when to the

which was in in. after we to actually us as layer reinventions the last back And demand, a larger year, -- those to position 'XX to and in would had of remember XXX is deals idea to the those. growth that increase that, go get You'll the strong begin

went changed, And quite to the ourselves we And market because that year which we have position. what are really that and changed. we not this and a after that's executed, we're was of And quickly then know, we last bit underscore of skills result able not uniquely the year, of last you did in quickly. because, agility to so proud these pivoted the managed is of demand result what do put market you're we we're easy the -- deals seeing do we why when environment changed, as the strategy consulting and have has services. the This all the capabilities, the mix of is

about going are talking these And super so based we when this of critical back growth strategy. on get of is programs. to said strong execution And strategic what to last this course, we were quarter we're

spending clients' when well on so does back heart the should be business, does at not the to And spending. come our pick we of market and we're and improve, capitalized up

stuff point back. -- short-term Hope pretty Yes. this. that well No, should as top quickly the last comes of on see

just a good. government my as get So And up, of federal lot there. questions on have to ask follow and it, exposure Accenture's I the U.S.

it's some of revenue about based X% think on disclosures. of annual I your report

the discussion So given change administration strategy you and your some U.S. curious, government of side? be your would expectations? the federal on terrific. are to Or comments here change just there the Any efficiency in around going of

secure. federal helping We right, really we're in changing excited are the right, U.S. infrastructure, around They're around Well, with important efficiencies. citizen because We're keep securing our critical agency country agencies. core across working our and -- work federal, driving on competencies Yes. very services. on

to believe very to itself, mission we're to cloud, and government positioned And secure to and much the citizens well help be so of AI. to that will efficiencies, drive the federal which tied super we help more data to continue

what leader partner. the every the to today government. us we've And positioned believe We're I saw talking was very solutions. And that ecosystem got that with major Force -- positioned doing sector uniquely and uniquely but we're there's strong have Air we you modernization. government expertise, private about cloud we an the commercial the federal on even and really that U.S. we because to are taking going commercial is appetite makes be greater of And what solutions

mission I to mean, the is of do majority critical government. work our is vast we federal mission what the critical. And

to the new as also up real we with those So continue to federal day are leaders with all the ]. waking administration really see all in X of drive with government the [ administrations, a to and partnered opportunity partner every we've

really, in help agenda. federal the So feel to positioned government good this really about we are where

And comes our question Bank Kupferberg today Jason America. from next with of

Happy the holidays. high know indicated end I guide. that you of last quarter, revenue initial the

any this fiscal not in require For year, improvement did material consulting.

that's Just wondering as raising X little months fiscal now you're a now case new into the top the end year? if any assuming almost improvement still bit? since Or you're are you consulting the in

And I'll take that.

with the us, whereas range, year, really of change range, raise we to see -- bottom deterioration. no -- at with more same, that more little to we of the in we a more of allow see continue we before, shared the you bit which a the for in bit the for end at top X% the For what full to is X% the there's

So no [indiscernible].

is delivery, service I now pleased, this we're came over And a very consulting we in bit large I our managed deals overdelivered which And better, quarter. with Yes. growth the and and mean, raising how obviously, guidance. little think

past hear. to quarters. over looking the adds Great at I'm X cumulatively then And headcount net just the

I big a like. up think looked we're That step the XX,XXX. from prior almost was trend pretty what

at accelerated this of much acquisitions bullish how as I sense is kind us hiring dealer? that not give So look there can versus And guess you was organic? and from reason any of any a to of

QX. the people me it And adds to as we question. relates had take net So that that in let

you So continued high the of people the demand about we the first And XX%. momentum see managing supply reflective is what quarter, core did and XX,XXX ours. is really in in rates utilization that around a add of is which competency our we And at see business.

hire the we'll give we that quarter, that similar India. this hiring a ahead, to little we skills it see that in that continue context need. Looking for bit the demand saw we last I'll the that concentrated was was more to you and

seeing -- our think organic So high right? of that the our I the just X, our seeing say year, momentum, positive So we're exit momentum you're but acquisitions, to coming is underlying guidance in of growth at we we're range that it sign our I is And the in to of would it guidance, -- Yes. that at are organic and for end business. going guidance, from a right? some is X is organic hiring

Bryan from question Deutsche And Keane our with next Bank. comes

Congrats holidays. The the first of a guidance basis. the a touch for X% solid 'XX X% constant currency currency differently. asking the year little on bit Kind of X% just question result. quarter a is Happy to fiscal guide number the below on constant revenue

reason about think to more first trying just into growth year off the if get So fiscal decelerate any as there's we why level would the quarter 'XX?

you Bryan, happy to holidays as well.

about give year our Let you the here's -- were we raise thinking guidance me how X%. for full and the to to X%

where a start QX. strong had we in about are, you think we If

driven driven really say, Julie in heard the There's broad-based overall organic was environment. the same which remains -- QX, it in At and you the guidance same. by was the growth. strong have time, no change We macro

-- earlier, how was things contribution we expect X%. that of to you the which of expect a -- want reinforce was in. come I And importantly I about that to one said of over we inorganic And continue bit to we what will provided do

out we expect see of fiscal around how the organic an So for somewhere X%, year. HX, playing about will we that And about organic see more year. of to continue this half will we X%, you throughout give second and understanding

so. strategy, X to under on count X as do quarter X belt. as quarter we're can got on got we're go. if our it, you you to in. and then us We've to relates it more executing our continue We've And Julie think about And to -- said earlier,

other maybe A Banking like economic of kind IT of markets a group, & little a sounds we're and but leads Got it. times, where because bit Got kind mixed the right service it. could bit Services. But guys Capital slowdowns. other messages helpful. in That's out providers. it just of was lot from some areas talk the Financial then is industry out figure you that some the just getting about And softer, industry the to that of now little of of strength trying

Yes.

little So a bit we bit you the I bit market U.K. got reposition say, the I is U.S. mixed and a a was where the see it's with interest little EMEA, were worse, might what heard, U.K., back to -- and by the on you've the market, coming we're in right? think it's a rates, the the market. little different it by So will pleased picture bit seeing But different in dynamics results as have way, as the a that we expectations by better, are.

surprise. I'd and so is so in in probably probably one U.S., Banking Markets not the Capital -- interest, on a complicated that AI. seeing right? the lot bit like example, And little things of & that a a Yesterday, we're hand, say that for And on

lot to hand, what's going with there's other the On a happen rates with processed being that's interest and kind that. of

obviously, And getting so better, but we I -- a see it's is picture -- region. it by mixed

that plays overall, globally, if strength as business Julie the think minus year diversity at was our exited industries. at Yes. markets QX Services in the with X% which about were saw a reminder, And just dynamics X%, Bryan, and uptick of we the we describing, to quarter our which last really across look you a as Financial just we and first

question next Research. our Peller Darrin at from Wolfe And today comes

I going this you'd pick could this know the little a visibility up in and generally the discretionary is But a on moved potential Great was do last -- for February kind we budgets we again? which year? picture get visibility anticipate into that really year, I expect year whether touch had earlier frame, you up just back January, time the at better part of it or not? think results. to on Could that timing of still your bit. Or

guys, just where maybe on incrementally now year. then the strong you're And a AI that, right it you're maybe as on specifics for improve? dovetail looking keep is Obviously, more bookings you just which happening conversations for Any great. really around next seeing

Yes.

looking really great is what we there, of So to -- the Accenture. at. February client sort a understanding budget going January January, see be is of

the most get we where that's So visibility.

on more in quarter. the that reporting be so And next we'll

So in we you're absolutely January, anticipate do February. that right, getting visibility

conversations, respect we're last right? continuing to time, world. our of and So with around see CEOs in X probably then talked AI, also spend to lot the a I XX months, in to the and And

I've Asia, busy in So the Southeast a it's Australia, in I've been quarter. been been U.S. Europe, travel

but cloud pretty why where So are talking places. to clients we're different in GenAI, one and want AI, in that the AI, to And be with in and they've -- the bank to bank does And be they're talking been is matter? what be first to it such do yet out cloud. the GenAI. the they another more seeking use I'll consistently, fact not they're where I mean in about I'll fully

think I hard so to generalize. it's And

that data and foundation overall within to faster moving companies start more environment AI. really when with opportunity -- in generally that to the AI still their the then more and feels we to be now more going because same, a as is that is into go want spending seeing But AI fuels right? still it Where that more are biggest the budget. current You're to like prioritization they're spending opposed who those get -- see spending spend to prioritizing confident more,

we'll to in why there, strategy after fair see share budgets. February. so January go more of our So [indiscernible] has that's and to what those right? And been pivot our And happens

about heard just really are starting mentioned you're bit we even at a the look opportunity where -- That's customers for And then think helpful. lot right. when more what a you India, but hiring, you're of little to All onshore. we've

had And shift any of Great offshore better looking little so more that right price back evidence seeing now? talk bit gone more mix maybe It where Are nearshore, you a on job. while optimization. But a for to are onshore? for a we again. the just about

No big on trend. What focus I'd say is we GXXXX. the

a So our are of global. lot companies

like optimization ability years skills, And so are for use right arbitrage, about to get people, India labor of is about scale. it XX a for because piece the why it's of they example, really ago, these looking big at about right? skills was skills Today, right?

more enterprise time What right, zones. you're it's some of new I of parts want cases, are more continuing transformation, is to with range say develop where skills to language, the at because that you would we, or Accenture, as doing in kind

we've in the -- center centers example, just XXX new global with in In the been opening a have for we U.S., So opened environments. Bronx the centers a recently. We around underserved some network world. in

it on sophisticated, So continues an very time as part price being right ourselves -- clients. I is at to emphasis with, the kind the but see guiding would say, of all of right skills, aimed skills. our we of strategy of and integrated zone, like talent And be right it's

Jim our comes Goldman question Sachs. from And today next Schneider,

And and little of really like differences outlook a that Fed any of you can side, XXXX about factor changes not maybe outlook, specifically a the message outcomes impact yesterday? macro discretionary how about understand you the and when Julie, what's sort But on materially I'm a as for discussed range clients, your when growth. look think you big they're given outlook? in sort do thinking [indiscernible] And with macro is talk idiosyncratic budget your of bit increases seeing that the that?

capital-intensive on if grow depends lots puts you're definitely the there's or range. in the to an industry right? industry So and more acquisitions, So -- doing you're a wants takes that in more rates of industry,

change, right? is just constraints cut capital it's that's rates because projects I mean to going fuel business, a because speculation. lot we've they matter got the to If early on more new want successfully opportunity when we projects, of are think -- change much rate partner bad change, on then our really clients got good what based with costs. they've too is, very now it higher, like been business if There's our like things are there's capital our the focused where the and doesn't yesterday's. I or

on, focus we're we think deep we successful these clients. and is what with what So our have so relationships I

XX Our okay, we've that years. and We what anticipating over helping. we them top been And say, they're mean, what at XXX, always looking understand are them. this

that's strength pivot. it's relevant so part -- that so can our really is, both And help that's we're whatever the where to to So Accenture of change growth and cost.

and to major That's of the individual of But larger, some GenAI? are context when AI, seeing quantitatively, any projects? sort you more of sort changes clients the about you size might of pivot helpful. within or And you're they then And the client about kind having. the their terms talked in scope are conversations transformative of of pivot with what projects respect of the saying to

-- Yes. the We're characteristics already starting starting to see clients We're see that, and clear. are the right? to

helped, able data a their those now to and many and start have you that and starting many scale, those do to to that's If seeing security they're that, have we of years, investing been include digital client core, and partnerships. for we've we're we're in

have us part what data clients you as not probably scale of is and modern we in is into got Where their working they're how cloud, but built of haven't talking platforms. data through that today of lot the were they're really with or you a getting there's they being where do now foundation we heard them accelerate maybe a the some And that. moving examples cloud into it helping with the then what foundation we've business, been prove along

which seeing is are an the to GenAI. acceleration using we absolutely so data And of work, fundamental

Dave today question comes next Koning with Baird. our And from

that to been guiding, quarter. a quarter. the flat just what sequentially guide. sequential different? -- to QX Great this job. has anything off may $X.X a year, of And in in little get know QX sequential down that's my little this $X that billion or fiscal And that's Historically, little kind a few some of about I -- a I you're was pattern be believe, there on But that. pretty question, hundred naturally I QX a QX guess I billion falling million FX,

happy holidays. David, Yes,

see. in QX that think fact, I quarter -- in guide just for would that our year. function out. what see us to in coming to deals our of we a call anchoring larger X% to delivery guidance of a we upon back -- -- than over we we unique bit was And online solid our QX full the better confidence continue saw it's As gave a based we the first X%, in about And really that, very raising there's nothing and the which

So nothing to call QX. out for

Yes. you. Got

but kind now You crushed nerdy I pickup question, think to you QX. think then, like definitely in debt in $XX the should that fully we of million or financial Does a And I in expense? place, million one, QX it was about have that? that QX. just like go $XX sequential interest like guess, something a in

interest you that when correct giving we see course, of that than as then net is did a of there from we numbers things, balances, have lower -- because below And Different specific -- we think saw result our interest the had you interest lower cash of there's our was income rates. to was the the terms income Yes. lower in you also also the expense yes, what it, in operations. how an long-term interest average about certain debt.

there. of all been and that that we've in guidance factored but has so -- it's So in the been

Faucette Stanley. today Morgan from And our question next with James comes

to continue like years, Great. those the ask allocation. quite did couple that? at able some overall raise be a from capital still and Where perspective? essentially good structure fund pursuing you're in like do cash we quickly decreases sounds debt on I return. help that we raising year, Last point, capital that debt we priorities? at just follow-up should at well are looked allocation to Or to pretty of further we priorities. committed a want to and both as can and Or It at we're acquisitions do expect some you -- last to as position fund feel least capital see to in debt the we

when We ultimately, for -- which capital to in long-term it and debt increase and our capital. let was $X start. said, change strategy, a Why capital our to market to to it liquidity accounting execute review how and optimizes That were use for cost there of purposes, structure structure general you, of tap we we our the reinforce to is G&A. just corporate me includes look at our no allocation which also our reduces step we talk pleased did we it of bond October. routine billion, I And our inaugural don't really back, where Nice Yes. offering you. capital

we've back kind sheet. going we've it's or said, around always billion. But business of not, We we're usual. be $X going of balance opportunities as think to to year, the this a there's more And got if as somewhere

debt. strategic opportunity as to double could increase no the of last and might, this gone had we $X year, So around down to served we're I acquisitions, we standard the we into percentage. right is of kind us we've debt, there's back kind well year, which an had this it we billion, if But raise strategy right on opportunities. but to year. But mean,

balance as market flexibility. that's strength the have And Accenture having not. think to that about whether the strong we'll go. do not about in to about how and go is think growth. if that I a flexibility And or opportunities So the drive debt communicate or decisions you the after sheet we think always have to We long-term that's we

a consulting Accenture's know focus it's color there? I'm great potential hard and control there. acceleration the it wanted That's -- And us maybe but then to customer growth can wondering into we're on And about if generalize given I'm breadth ask base, you I I and or evaluation versus I folds generation a of if wondering what guess I'm revenue new you're technology consulting how bookings help there. seeing cost bookings, and nice wondering in change AI. if or there's seeing seeing the

bookings Just provide on look like tenor of right could you any consulting those now? the what color

Yes.

what keep to in our multiservice are solution. mind we're clients generally maybe bringing So that

lot as about, of that requires process is consulting services do, work. in a we make the doing that you managed that. reinvention of might it the as we're So lot of talked we're all industry A a doing security, part sure and to

industry X They and -- least looking they're us. a when I think come efficiency Every want they efficiency. wants to other themes there I -- now, that anchor or would are So cost -- on growth market. outcomes at for cost

doing we to talked when we're lot with Caixa Bank, like about a well efficiencies. what heard whole that speed as market, as You

of one in our unique really everything things We that. put -- we -- like Song, that it's industry. that's and that because gives things about customer, the we and us differentiation on, can so And got the we that's focus to

So the twin themes here is cost efficiency growth. and

BMO today from Bachman Our Keith comes with next Capital question Markets.

ask to that And holidays question indicated everyone. Happy is the pricing you've macro to around dynamics. I first is fairly steady. backdrop My wanted

share the as to maybe I specifically work. such BPO through some application, legacy of areas wanted gaining ask about skills, and You're the

that and competitors as quarter? is One you're address during lot of you pricing your those deals suggested challenging of what there because a enough pricing dynamics folks seeing chasing deals, pretty specifically aren't could changes? but Any the

did said, small constrained. we is It's I we which market, spending, constrained deals say constrained that would and What consistent. to been as a which the lower pretty saying expect what see we've every very which so a competitive is, -- pricing be have makes sense, has the quarter across right, business, been particularly on in clients it you're and you'd

offer the Managed it So not have we what do do right? though, way we have full-stack Gen engineers, talent, AMS, is the clients you the would if legacy Wizard. GenAI, is a called our that say, we it, Application platform I we What to the Services,

and coming in us -- work They're we're And "Hey, very down. old are advanced that say, we're you what my while on modernize take for the coming doing, taking to And so it. applications." you see it's to can costs clients us to how off doing

us the your to have help to new. So basically it nail rotate It's run like to right? we call run you ], [ in order the applications

operations It's the their Same heart with we that core. way thing not critical in their a our business of as this see we business. So are legacy. digital modernizing at

Yes.

XX may holidays. But perspective me. in the a to suggested the XX, about in fair, European what's just in read newspapers And to it have the of happy -- Europe's on Europe Compass, follow-up makes seen for Software and which have days with last sense. going months? question recent the guys and any XX and/or underpinning that's next sense, softened that Okay. discussions, be That you the Europe. of our And makes is, you relates change ton if you My have some it dynamics over demand change that as

Thanks.

the environment. obviously the definitely Europe same XX definitely our our is of papers. -- right? next rate that more an of all relative EMEA. with European a the our -- we're is over into as is there We're rise on reading is demand business a So challenging we you very have relevant see about view more different. And good -- guidance, basis in months, our Europe And But we excellent is in baked growth very to clients. feel well.

raise in And that's environment, fully so the about and in question? -- we demand that Can us the we -- just guidance next gave we have the good you. feel reflected our

then and question, more will Julie up wrap call. the one Operator,

comes question Absolutely. with And TD our from Bryan Cowen. Bergin final

you and I performance strategic consulting, holidays. service lines ask comment wanted on the on tech across Can to Happy here. operations? services

-- all this Yes. All quarter. very strong

look we that, the at is to we perspective, consulting had a Bryan, services services. to I XX% and it mid- services that thing add high range growth. for that growth year, in now that And which from consulting and consulting broad-based see we type as mid-single in would range And have you of Yes. think managed if the see mid-single-digit growth. you about in managed the rate managed X% the growth to is the X% in underneath we did

follow-up and then profitability. workforce here contract And on a Okay. the

since what levers in just So services was gross in margin Can Just seeing mitigate pricing to been just most and the here you you companies you've you're talk about wage leaning you dynamics, particularly on competitive across most comment environment? far know inflation added headcount there as the pressure. as India. given have

market dynamics real we I'll and it based skills that pay continues we -- as to the upon the it we and competitive. of the of mentioned, see -- And locations of of are what our relates see it pricing, course, to Yes, start, to always reflected paying terms continue people. in relevant is as And highly inflation. market wage No change around Bryan. the Julie be then

time, differentiation, efficiencies business on At and on our we're as as focused you operate. the on and of our managing know as pricing cost focused we're us, in right, we same that. well delivery We're and how

day. of do healthy very I what closing, us all and and want today, everyone I single our of continued joining shareholders in to we and trust a season. your you for look people quarter. Thank happy forward every you here for holiday our support and Well, to a being all wish thank in back for

. everyone. thanks, So

today's conference we thank and This you. Thank all concludes today's presentation. you attending for call,

a You wonderful may have and now day. your disconnect lines,