Accenture (ACN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Financial Performance - Revenue for the quarter ended May 2024 was $16.47 billion, a decrease of 0.6% compared to the same period last year [1] - EPS for the quarter was $3.13, down from $3.19 in the year-ago quarter [1] - Revenue missed the Zacks Consensus Estimate of $16.52 billion by -0.35% [1] - EPS missed the consensus estimate of $3.14 by -0.32% [1] Key Metrics - Total New Bookings were $21.06 billion, exceeding the average estimate of $19.24 billion [3] - Managed Services New Bookings were $11.78 billion, surpassing the average estimate of $9.87 billion [3] - Consulting New Bookings were $9.28 billion, slightly below the average estimate of $9.37 billion [3] Geographic Revenue - North America revenue was $7.83 billion, matching the estimate and representing a +1.5% year-over-year change [3] - Growth Markets revenue was $2.86 billion, below the estimate of $3.11 billion and showing a -11.5% year-over-year change [3] - EMEA revenue was $5.78 billion, slightly below the estimate of $5.87 billion but with a +2.9% year-over-year increase [3] Revenue by Type of Work - Consulting revenue was $8.46 billion, above the estimate of $8.35 billion but with a -2.7% year-over-year change [3] - Managed Services revenue was $8.01 billion, below the estimate of $8.12 billion but with a +1.8% year-over-year increase [3] Revenue by Industry Groups - Product revenue was $4.98 billion, slightly below the estimate of $5.01 billion and showing a +0.3% year-over-year change [3] - Health & Public Service revenue was $3.52 billion, matching the estimate and representing a +7.6% year-over-year increase [3] - Financial Services revenue was $2.89 billion, below the estimate of $3.06 billion and showing a -7.8% year-over-year change [3] - Communications, Media & Technology revenue was $2.76 billion, above the estimate of $2.57 billion but with a -4.1% year-over-year change [3] Stock Performance - Shares of Accenture have returned -7.1% over the past month, underperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently has a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]