Accenture Gains 7%+ Despite Earnings and Revenue Misses as AI Bookings Appear to Impress Investors
$Accenture (ACN.US)$ rose more than 7% Thursday even as the business-services giant missed analysts' consensus estimate for fiscal Q3 sales and earnings, but delivered well-received AI-related bookings.
ACN gained 7.3% to a $306.16 even though the firm reported $16.47 billion in quarterly sales, trailing to $16.55 billion that published reports indicated analysts had expected.
The company also posted $3.13 in adjusted earnings per share, reportedly trailing analysts' consensus $3.15 forecast.
Additionally, Accenture guided fiscal Q4 revenues to a $16.05 billion to $16.65 billion range compared to the $16.56 billion analysts had reportedly previously expected.
While none of the results especially exceeded analyst forecasts, the stock nonetheless rose -- reportedly due to a good showing for its artificial-intelligence-related business.
ACN said new bookings tied to generative AI topped $900 million for the quarter and $2 billion in the fiscal year to date.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
559Followers
546Following
3007Visitors
Follow