Accenture Plc ( ACN )  reported third-quarter fiscal 2024 sales of $16.47 billion compared with the analyst consensus of $16.55 billion, down 1% Y/Y in U.S. dollars and up by 1.4% in local currency. 

Revenues were slightly above the midpoint of the company’s guided range of $16.10 billion – $16.70 billion. Adjusted EPS of $3.13 missed the analyst consensus of $3.15.

Revenues for the quarter reflect a negative foreign exchange impact of approximately 2%, compared with the negative 1% impact previously assumed. 

New bookings for the quarter were $21.06 billion, with consulting bookings of $9.28 billion and managed services bookings of $11.78 billion.

Adjusted operating income for the quarter was $2.71 billion, or 16.4% of revenues, versus 16.3% in the third fiscal 2023.

Products revenues reached $4.98 billion, flat in U.S. dollars and 2% increase in local currency. Health & Public Service revenues increased by 8% in U.S. dollars and 9% in local currency to $3.52 billion.

Financial Services revenue reached $2.89 billion, down by 8% in U.S. dollars and 5% in local currency. Resources revenue was $2.31 billion, flat in U.S. dollars and up by 3% in local currency.

Communications, Media & Technology revenue was $2.76 billion, a decrease of 4% in U.S. dollars and 1% in local currency.

Dividend: Accenture ( ACN ) has declared quarterly cash dividend of $1.29 per share for shareholders of record at the close of business on July 11. This dividend is payable on August 15.

Julie Sweet, chair and CEO, Accenture ( ACN ), said, “We also achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology. All of this while investing at scale in our business with another 35 acquisitions or $5.2 billion of capital deployed year-to-date.”

Outlook: Accenture ( ACN ) expects fourth-quarter revenues of $16.05 billion – $16.65 billion (versus consensus of $16.56 billion).

Accenture ( ACN ) expects fiscal 2024 adjusted EPS of $11.85 – $12.00 (prior $11.97 – $12.20) versus consensus of $12.10. For fiscal 2024, the company expects revenue growth of 1.5% – 2.5% (prior 1% – 3%) in local currency vs. $65.23 billion consensus.

For fiscal 2024, the company reiterated operating cash flow of $9.3 billion – $9.9 billion and free cash flow of $8.7 billion – $9.3 billion. 

Price Action: ACN shares are up 8.99% at $311.00 premarket at the last check Thursday.