The following is a summary of the Accenture Plc (ACN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Revenue grew by 1.4% in local currency, reaching $16.5 billion for the quarter.

• Adjusted operating margin was 16.4%, marking an increase of 10 basis points over the previous year, reflecting significant investments in people and the business.

• New bookings totaled $21.1 billion for the quarter, a 22% growth in U.S. dollars and 26% in local currency, with a strong emphasis on large-scale transformations and managed services.

• Free cash flow amounted to $3 billion, with a consistent gross margin of 33.4%.

Business Progress:

• Accenture is strategically positioning itself as the reinvention partner for large-scale transformations, evident from 23 clients with bookings over $100 million in the quarter.

• The company continues to emphasize GenAI with $900 million in new bookings this quarter, totaling $2 billion year-to-date, up significantly from the previous year.

• Strategic acquisitions continued, with $2.3 billion deployed in Q3 across 12 acquisitions, focusing on strategic growth areas and capabilities expansion.

Opportunities:

• Focus on large-scale transformations and managed services, particularly in industries like public service, health, and defense, where significant transformations are underway.

• Continued expansion in GenAI, both in terms of project size and scope, with $500 million in revenue from GenAI, reflecting a growing demand and strategic positioning in this evolving technology space.

Risks:

• The global demand environment remains cautious with clients prioritizing large-scale transformations while delaying discretionary spending on smaller projects, impacting the pace of revenue conversion and growth in consulting services.

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