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.
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