Accenture on Thursday reported a decline in earnings and revenue for its fiscal fourth quarter that ended on August 31, down approximately 2 percentage points owing to a decline in revenues from the reimbursable travel costs. The company registered USD 10.8 billion in revenue in its fourth quarter, compared with USD 11.06 billion for the fourth quarter of fiscal 2019.

The Q4 net income was USD 1.12 billion, compared with USD 1.15 billion for the fourth quarter last year.

The shares of Accenture were down by over 5 percent in early trading. For the full fiscal year, revenues were USD 44.3 billion, an increase of 3 per cent compared with fiscal 2019, the company said in a statement. However, revenue growth for the year was reduced approximately 1 percentage point, again by a decline in revenues from reimbursable travel costs.

"Our ability to pivot rapidly to meet the needs of our clients and new ways of operating is reflected in our record new bookings of USD 50 billion for fiscal 2020," said Julie Sweet, Accenture's chief executive officer. "As we turn the page to fiscal 2021, we are better positioned than ever to continue gaining market share and delivering tangible value for our clients and shared success for all our stakeholders".

Accenture expects revenues for the first quarter of fiscal 2021 to be in the range of USD 11.15 billion to USD 11.55 billion, a decrease of 3 percent flat in local currency, including a reduction of approximately 2 percentage points from a decline in revenues from reimbursable travel costs.

The company is assuming a positive 1.5 percent foreign-exchange impact compared with the first quarter of fiscal 2020.

First Published:Sept 25, 2020 10:52 AM IST