Accenture reports ‘outstanding’ first quarter and raised outlook for 2022

17 Dec 2021

Image: © monticellllo/

The multinational giant has reported record growth to its new bookings and anticipates a strong financial year ahead.

Ireland-based professional services company Accenture has reported strong growth in revenue and earnings for the three months of its 2022 financial year ending 30 November.

The multinational’s new bookings were a record $16.8bn, a 30pc increase to last year, with record consulting bookings of $9.4bn and outsourcing bookings of $7.4bn.

Accenture’s revenue was $14.97bn, up 27pc year on year in both US dollars and local currency, up $600m on its own guidance for the quarter. Its earnings per share (EPS) was $2.78, a 28pc increase on an adjusted basis, as last year’s EPS included pre-tax gains on an investment of $120m.

Accenture chair and CEO Julie Sweet described the financial performance of the first quarter as “outstanding” and said it reflects continued market share gains.

“This is the direct result of having executed for years a strategy to rotate our business to digital, cloud and security, both hiring and upskilling exceptionally talented people across the globe and fostering deep relationships with both the world’s leading companies and our technology partners.”

Sweet added: “I am especially proud that we added 50,000 people to our workforce this quarter, now at 674,000, reflecting our strong employee experience which enables us to attract and grow great people.”

Accenture’s growth was strongest in its products sector with a 34pc increase, while its communications, media and technology division showed growth of 32pc.

Its growth was largely consistent across geographic areas, showing a boost in revenue in growth markets of 30pc in local currency, with revenue up 28pc in Europe and 26pc in North America.

The company’s operating margin was 16.3pc.

Accenture said the results of this quarter raises its outlook for the financial year ahead, as it now expects revenue growth to be between 19pc and 22pc in local currency for 2022.

Accenture previously reported record revenue of $50bn in its 2021 fiscal year.

The company also announced a new reporting experience, where stakeholders can see all the company’s reporting and data in one place along with its goals, progress and performance.

Accenture has been expanding its presence in Ireland, as it announced in June that it’s adding 500 new staff over the next three years, with a focus on a new regional hub in Munster.

The company has also been growing its business through acquisitions over the past year in areas such as cybersecurity and cloud.

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Leigh Mc Gowran is a journalist with Silicon Republic