The professional services giant reported nine per cent revenue growth year over year, to US$17.7 billion. Accenture made an adjusted profit of US$2.95 billion, ahead of analysts’ consensus estimate as compiled by FactSet. (The Logic)
Talking point: Generative AI remains a small part of the business, but it’s growing fast. Accenture made about US$500 million in revenue from the technology in the first quarter, and logged another US$1.2 billion in bookings—new and renewed contracts—CEO Julie Sweet said on the firm’s earnings call Thursday. Clients are adopting generative AI as they overhaul internal systems, she said. Some of those tools will be powered by models from Toronto’s Cohere, which has a tie-up with Accenture to build products for the consulting firm’s clients.
