Source: Wind
Hong Kong Wande News reported that on December 19, a globally renowned IT service company $Accenture (ACN.US)$ the US stock market opened up more than 8%. The company announced its fiscal year 2025 first-quarter performance, achieving revenue of 17.69 billion dollars, a year-on-year increase of 9%.
Thanks to companies increasingly seeking generative AI automation to reduce Operating costs and improve Operating efficiency, the company's related business in generative AI has shown strong quarter-on-quarter growth in bookings in recent years. It is noteworthy that in October of this year, Accenture also $NVIDIA (NVDA.US)$ expanded its partnership aimed at promoting the adoption of AI by businesses.
Accenture's performance once again exceeded expectations.
Accenture's Q1 Earnings Reports for FY2025 show that revenue in the first quarter was 17.69 billion USD, representing a year-on-year growth of 9%, exceeding the market estimate of 17.15 billion USD; of this, financial services revenue was 3.17 billion USD, an increase of 4.5% year-on-year, with market expectations at 3.01 billion USD; the company's EPS was 3.59 USD, compared to 3.10 USD in the same period last year; Operating Cash/ Money Market flow was 1.02 billion USD, compared to 0.4986 billion USD in the same period last year, with market expectations at 1.06 billion USD.
Previously, Accenture's Q4 Earnings Reports for FY2024 indicated that this IT Consulting Services leader, headquartered in Dublin, had total revenue of approximately 16.41 billion USD in the fourth quarter, with a year-on-year growth of 3% based on a USD pricing benchmark. Among these, the generative AI-related business helped offset the significant slowdown in demand for other types of IT services, maintaining positive growth for four consecutive quarters.
The development speed of the company's generative AI business far exceeds that of other core businesses because enterprises are increasingly seeking generative AI automation to reduce operational costs and improve business efficiency. Company earnings reports indicate that over the past four quarters, bookings related to generative AI have shown strong quarterly growth, totaling approximately 3 billion USD for the year.
Accenture's new bookings are a key indicator of customer contract value, with new bookings in the fourth quarter increasing from 17.25 billion USD in the third quarter to 20.1 billion USD, a year-on-year increase of 21%. The bookings related to generative AI contributed a full 1 billion USD to the company’s new bookings, up from 0.9 billion USD in the previous quarter.
As of the end of August this year, Accenture has provided consulting and implementation services for customers in over 700 generative AI projects, offering enterprise clients a one-stop solution from data processing to the practical use of generative AI to enhance operational efficiency. These solutions span across industries, from helping insurance companies increase revenue to providing personalized customer services for banks, showcasing generative AI's strong potential in various sectors.
Collaborating with NVIDIA to promote enterprise adoption of AI.
It is worth mentioning that in October of this year, Accenture expanded its partnership with NVIDIA to promote the adoption of Artificial Intelligence (AI) by enterprises and increase orders for the chip manufacturer's products. Reports indicate that Accenture will create a dedicated NVIDIA business unit to help clients use and scale generative AI tools. The NVIDIA business unit will train 0.03 million professionals globally to assist Accenture's clients in reshaping processes and driving enterprise AI adoption through the Accenture AI Refinery platform, which utilizes NVIDIA's entire AI stack.
Accenture's Chairperson and CEO, Julie Sweet, stated in a declaration: 'Through our partnership with NVIDIA, we are opening up important new avenues that allow our clients to be at the forefront of using generative AI as a catalyst for transformation.'
NVIDIA founder and CEO Jensen Huang stated: "AI will help companies scale innovation at a faster pace. NVIDIA's platform, Accenture's AI Refinery, and our comprehensive expertise will assist businesses and nations in accelerating this transformation, driving unprecedented productivity and growth."
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