Accenture Stock Surges as Earnings Top Estimates and AI Bookings Grow [Video]

Shares of Accenture (ACN) surged Thursday after the professional services and consulting firm reported first-quarter results that topped analysts’ expectations and lifted its full-year revenue growth forecast.

Accenture posted $17.7 billion in revenue for the quarter, up from $16.2 billion the same time last year and above the $17.1 billion analysts projected as artificial intelligence (AI) bookings climbed.

The company recorded $2.28 billion in net income, or $3.59 per share, better than the $1.98 billion, or $3.10 per share, the company reported a year ago. Those figures also beat analysts’ estimates compiled by Visible Alpha.

Accenture said it anticipates second-quarter revenue of $16.2 billion to $16.8 billion, with analysts expecting roughly $16.66 billion. The company also lifted its full-year revenue outlook, projecting growth of 4% to 7% compared to fiscal 2024, up from 3% to 6% previously.

However, the Ireland-based firm lowered its full-year earnings per share (EPS)projection, warning exchange rates would have a negative …