Accenture(ACN) - 2025 Q2 - Quarterly Report

Financial Performance - Revenues for the second quarter of fiscal 2025 were $16.7 billion, representing a 5$2.82, compared to $2.63 in the second quarter of fiscal 2024[73]. - Operating margin improved to 13.5$198 million, or 10%, compared to the same period in fiscal 2024, with an operating margin of 13.5%[101]. - For the six months ended February 28, 2025, operating income rose by $582 million, or 13$76 million, an increase of $11 million, or 17$65 million, an increase of $54 million compared to the same period in fiscal 2024[109]. - The effective tax rate for the second quarter of fiscal 2025 was 20.4$16.659 billion, a 5% increase from $15.800 billion in Q2 fiscal 2024[85]. Bookings and Workforce - New bookings totaled$20.9 billion, reflecting a 3% decrease in U.S. dollars and flat growth in local currency[73]. - Total new bookings for Q2 fiscal 2025 were $20.9 billion, a decrease of 3$21.6 billion in Q2 fiscal 2024[82]. - The workforce increased to approximately 801,000, up from approximately 742,000 a year earlier, reflecting hiring to meet demand[78]. - For Q2 fiscal 2025, annualized attrition was 13%, consistent with Q2 fiscal 2024[79]. Expenses and Margins - Operating expenses for Q2 fiscal 2025 increased by $662 million, or 5$14.415 billion[90]. - Cost of services for Q2 fiscal 2025 increased by $763 million, or 7$46 million, or 3%, totaling $1.677 billion[95]. - General and administrative costs for Q2 fiscal 2025 decreased by$32 million, or 3%, totaling $1.053 billion[96]. Shareholder Returns - Cash returned to shareholders amounted to$2.4 billion, including $929 million in dividends and$1.4 billion in share repurchases[73]. - During the six months ended February 28, 2025, Accenture plc repurchased a total of 6,527,646 shares for $2,342 million, including 4,611,999 shares purchased in open-market transactions for$1,656 million[123]. - The company plans to continue utilizing a significant portion of cash generated from operations for share repurchases throughout fiscal 2025, with the number of shares repurchased depending on various market conditions[125]. Cash and Liquidity - As of February 28, 2025, cash and cash equivalents totaled $8.5 billion, up from$5.0 billion as of August 31, 2024[117]. - Net cash provided by operating activities for the six months ended February 28, 2025 was $3,876 million, an increase of$1,276 million from the prior year[117]. Corporate Governance and Risk - Accenture's management has evaluated the effectiveness of its disclosure controls and procedures, concluding they were effective at the reasonable assurance level as of the end of the reporting period[129]. - There have been no changes in internal control over financial reporting that materially affected the company during the second quarter of fiscal 2025[130]. - There were no material changes to market risk exposure during the six months ended February 28, 2025, as disclosed in the Annual Report for the year ended August 31, 2024[128]. - The company has not been required to make significant payments under indemnification arrangements with clients[127].