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Accenture
Reports
Fourth-Quarter
and
Strong
Full-Year
Fiscal
2023
Results--Forthefourthquarter,revenuesare
$16.0billion,anincreaseof4%inbothU.S.dollarsandlocalcurrency;GAAP
operatingmarginis
12.0%,comparedto14.7%inthefourthquarteroffiscal2022;adjusted
operatingmarginis
14.9%,anexpansionof
20basispoints--1--Forfullfiscalyear,
revenuesare
$64.1billion,anincreaseof4%inU.S.dollarsand
8%inlocalcurrency;GAAP
operatingmarginis
13.7%,comparedto15.2%infiscal2022;adjustedoperatingmarginexpands
20basispointsto15.4%----Forthefourthquarter,GAAP
EPSare
$2.15,comparedto$2.60inthefourthquarteroffiscal2022;adjustedEPSare
$2.71,a4%increase.Forfullfiscalyear,
GAAP
EPSare
$10.77,comparedto$10.71infiscal2022;adjustedEPSare
$11.67,
a9%increase----Freecashflowis$3.2billionforthequarterand
$9.0billionforthefull-year----Newbookingsare$16.6billionforthequarterand
$72.2billionforthefull-year,a
1%increaseinU.S.dollarsand
5%increaseinlocalcurrencyoverfull-year
fiscal2022newbookings----15%increaseinquarterlydividendto
$1.29pershare;BoardofDirectorsapproves$4.0billionofadditionalsharerepurchaseauthority----Forfiscalyear2024,
Accentureexpectsrevenuegrowthof2%to5%inlocalcurrency;GAAPdilutedEPSof$11.41
to$11.76,
a6%to9%increase;andadjustedEPSof$11.97
to$12.32,a3%to6%increase--NEW
YORK;September28,2023
—
Accenture(NYSE:
ACN)reportedfinancialresultsforthefourthquarterandfullfiscalyearended
August31,2023.For
the
fourth
quarter,
revenueswere$16.0billion,anincreaseof4%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.GAAP
operatingincomewas$1.91billion,comparedto$2.27billionforthefourthquarterlastyear,
andoperatingmarginwas12.0%comparedto14.7%forthefourthquarterlastyear.
Adjustedoperatingincomewas$2.38billionandadjustedoperatingmarginwas
14.9%,anexpansionof
20basispointsfromthefourthquarteroffiscal2022.GAAP
dilutedearningspersharewere
$2.15,comparedto$2.60forthefourthquarterlastyear.
AdjustedEPSwere
$2.71,anincreaseof4%fromthefourthquarteroffiscal2022.Operatingcashflowwas
$3.41billionandfreecashflowwas$3.23billion.Newbookingswere
$16.6billion.For
the
full
fiscal
year,
revenueswere$64.1billion,anincreaseof4%inU.S.dollarsand
8%inlocalcurrencycomparedwith
fiscal2022.GAAP
operatingincomewas
$8.81billion,comparedto$9.37billioninfiscal2022,andoperatingmarginwas
13.7%comparedto15.2%infiscal2022.
Adjustedoperatingincomewas
$9.87billionandadjustedoperatingmarginwas
15.4%,anexpansionof20basispointsfromfiscal2022.GAAP
dilutedearningspersharewere
$10.77,comparedto$10.71infiscal2022.
AdjustedEPSwere
$11.67,
anincreaseof9%fromfiscal2022.
Operatingcashflowwas
$9.52billionandfreecashflowwas
$9.00billion.Newbookingswere$72.2billion.1Adjustedfinancialmeasurespresentedinthisreleasearenon-GAAP
financialmeasuresthatexcludebusinessoptimizationcostsandagainrelatedtoourinvestmentinDuckCreek
Technologies,asfurtherdescribedinthisrelease.JulieSweet,chairandCEO,
Accenture,said,“Iamextremelyproudthatwehaveachievedanotherstrongyearoffinancialperformanceinfiscalyear2023.Ourabilitytoremainlaser-focusedonmeetingtheneedsofourclientsisreflectedinnewbookingsof
$72billioninfiscal2023;106clientswithquarterlybookingsofmorethan$100million;
andreachingarecord300Diamondclients,ourlargestrelationships.
Ourclients’
generative
AIbookingsof$300millioninthelastsixmonthspositionusattheheartofthebeginningof
AI-fueledreinvention.
Iwouldliketothankourextraordinary
733,000peoplewhomadetheseresultspossibleandfocuseverydayoncreating360°valueforallofourstakeholders.”Financial
ReviewFourth
Quarter
Fiscal
2023Revenuesforthefourthquarteroffiscal2023
were$15.99billion,comparedwith$15.42billionforthefourthquarteroffiscal2022,anincreaseof4%inbothU.S.dollarsandlocalcurrency,andwerewithinthecompany’sguidedrangeof
$15.75billionto$16.35billion.
Therewasnoforeign-exchangeimpactforthequarter,
whichwasconsistentwiththeassumptionprovidedinthecompany’sthird-quarterearningsrelease.??Consultingrevenueswere
$8.20billion,adecreaseof2%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.ManagedServicesrevenueswere
$7.79billion,anincreaseof10%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.GAAP
dilutedEPSforthequarterwere
$2.15comparedwith$2.60forthefourthquarteroffiscal2022.Excludinga$0.56decreaseforbusinessoptimizationcosts,
adjustedEPSwere$2.71,anincreaseof4%fromthefourthquarteroffiscal2022.
The$0.11
increaseinEPSonanadjustedbasisreflects:???a$0.14increasefromhigherrevenueandoperatingresults;a$0.08increasefromhighernon-operatingincome;anda$0.01increasefromlowersharecount;partiallyoffsetby??a$0.11
decreasefromahighereffectivetaxrate;anda$0.01decreasefromhighernoncontrollinginterests.Grossmargin(grossprofitasapercentageofrevenues)forthefourthquarterwas
32.4%,comparedwith32.1%forthefourthquarteroffiscal2022.Selling,generalandadministrative(SG&A)expensesforthefourthquarterwere
$2.80billion,or17.5%ofrevenues,comparedwith$2.68billion,or17.4%ofrevenues,forthe
fourthquarteroffiscal2022.GAAP
operatingincomeforthequarterdecreased
16%,to$1.91billion,or12.0%ofrevenues,comparedwith$2.27billion,or14.7%ofrevenues,forthe
fourthquarteroffiscal2022.
Adjustedoperatingincomeforthequarterwas
$2.38billion,or14.9%ofrevenues,anexpansionof
20basispointsfromthe
fourthquarteroffiscal2022.Thecompany'sGAAP
effectivetaxrateforthequarterwas
28.1%,comparedwith24.6%forthefourthquarteroffiscal2022.Onanadjustedbasis,theeffectivetaxrateforthe
fourthquarteroffiscal2023was27.4%.GAAP
netincomeforthequarterwas
$1.41billion,comparedwith$1.69billionforthefourthquarteroffiscal2022.
Adjustednetincomeforthequarterwas
$1.76billion.Operatingcashflowforthequarterwas
$3.41billion,andpropertyandequipmentadditionswere$180million.Freecashflow,
definedasoperatingcashflownetofpropertyandequipmentadditions,was$3.23billion.Forthesameperiodlastyear,
operatingcashflowwas
$3.79billion,propertyandequipmentadditionswere
$177million,andfreecashflowwas
$3.61billion.Daysservicesoutstanding,orDSOs,were42daysat
August31,2023,comparedwith43daysat
August31,2022.Accenture’stotalcashbalanceat
August31,2023was$9.0billion,comparedwith$7.9billionatAugust31,2022.New
BookingsNewbookingsforthe
fourthquarteroffiscal2023
were$16.6billion,adecreaseof10%inbothU.S.dollarsandlocalcurrencyfromthe
fourthquarteroffiscal2023.??Consultingnewbookingswere
$8.5billion,or51%oftotalnewbookings.ManagedServicesnewbookingswere
$8.2billion,or49%oftotalnewbookings.Revenues
by
Geographic
MarketRevenuesbygeographicmarketwereasfollows:???North
America:$7.55billion,flatinU.S.dollarsandanincreaseof
1%inlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Europe:$5.30billion,anincreaseof10%inU.S.dollarsand
7%inlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.GrowthMarkets:$3.13billion,anincreaseof1%inU.S.dollarsand
6%inlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Revenues
by
Industry
GroupRevenuesbyindustrygroupwereasfollows:?Communications,Media&
Technology:$2.71billion,adecreaseof12%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.????FinancialServices:$3.03billion,anincreaseof3%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Health&PublicService:
$3.27billion,anincreaseof13%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Products:$4.75billion,anincreaseof6%inU.S.dollarsand
5%inlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Resources:$2.23billion,anincreaseof10%inbothU.S.dollarsandlocalcurrencycomparedwiththe
fourthquarteroffiscal2022.Full
Year
Fiscal
2023Revenuesforfiscal2023were$64.11
billion,comparedwith$61.59billionforfiscal2022,anincreaseof4%inU.S.dollarsand
8%inlocalcurrency.
Revenuesfor
fiscal2023reflectaforeign-exchangeimpactofapproximatelynegative
4%comparedwithfiscal2022.??Consultingrevenueswere
$33.61billion,adecreaseof1%inU.S.dollarsandanincreaseof3%inlocalcurrencycomparedwith
fiscal2022.ManagedServicesrevenueswere
$30.50billion,anincreaseof11%
inU.S.dollarsand14%inlocalcurrencycomparedwith
fiscal2022.GAAP
dilutedEPSfor
fiscal2023were$10.77comparedwith$10.71forfiscal2022.Excludinga$1.28decreaseforbusinessoptimizationcostsanda
$0.38increaseforagainonaninvestment,adjustedEPSwere
$11.67,
anincreaseof9%fromfiscal2022.
The$0.96increaseinEPSonanadjustedbasisreflects:???a$0.60increasefromhigherrevenueandoperatingresults;a$0.18increasefromhighernon-operatingincome;a$0.15increasefromthelossonthedispositionofthecompany’sbusinessinRussiarecordedinfiscal2022;and?a$0.08increasefromlowersharecount;partiallyoffsetby?a$0.03decreasefromhighernoncontrollinginterests;anda$0.02decreasefromahighereffectivetaxrate.?Grossmargin(grossprofitasapercentageofrevenues)for
fiscal2023was32.3%,comparedwith32.0%forfiscal2022.Selling,generalandadministrative(SG&A)expensesforthefullfiscalyearwere$10.86billionor16.9%ofrevenues,comparedwith
$10.33billion,or16.8%ofrevenues,forfiscal2022.GAAP
Operatingincomefor
fiscal2023decreased6%,to$8.81billion,or13.7%ofrevenues,comparedwith$9.37billion,or15.2%ofrevenues,infiscal2022.
Adjustedoperatingincomeforthefullfiscalyearwas
$9.87billion,or15.4%ofrevenues,anexpansionof
20basispointsfromfiscal2022.Thecompany'sGAAP
annualeffectivetaxratefor
fiscal2023was23.4%,comparedwith24.0%infiscal2022.Onanadjustedbasis,theeffectivetaxratefor
fiscal2023was23.9%.GAAP
netincomeforthefullfiscalyearwas
$7.00billion,comparedwith$6.99billioninfiscal2022.
Adjustednetincomefor
fiscal2023was$7.58billion.Forfiscal2023,operatingcashflowwas
$9.52billion,andpropertyandequipmentadditionswere$528million.Freecashflow,
definedasoperatingcashflownetofpropertyandequipmentadditions,was$9.00billion.Forfiscal2022,operatingcashflowwas
$9.54billion,propertyandequipmentadditionswere
$718million,andfreecashflowwas
$8.82billion.New
BookingsNewbookingsforfiscal2023were$72.2billion,anincreaseof1%inU.S.dollarsand
5%inlocalcurrencyfromfiscal2022.??Consultingnewbookingswere
$36.2billion,or50%oftotalnewbookings.ManagedServicesnewbookingswere
$36.0billion,or50%oftotalnewbookings.Revenues
by
Geographic
MarketRevenuesbygeographicmarketfor
fiscal2023wereasfollows:???North
America:$30.30billion,anincreaseof4%inbothU.S.dollarsandlocalcurrencycomparedwithfiscal2022.Europe:$21.29billion,anincreaseof5%inU.S.dollarsand
11%
inlocalcurrencycomparedwithfiscal2022.GrowthMarkets:$12.53billion,anincreaseof3%inU.S.dollarsand
12%inlocalcurrencycomparedwith
fiscal2022.Revenues
by
Industry
GroupRevenuesbyindustrygroupfor
fiscal2023wereasfollows:???Communications,Media&
Technology:
$11.45
billion,adecreaseof6%inU.S.dollarsand3%inlocalcurrencycomparedwith
fiscal2022.FinancialServices:$12.13billion,anincreaseof3%inU.S.dollarsand
7%inlocalcurrencycomparedwith
fiscal2022.Health&PublicService:
$12.56billion,anincreaseof12%inU.S.dollarsand
14%inlocalcurrencycomparedwith
fiscal2022.??Products:$19.10billion,anincreaseof5%inU.S.dollarsand
9%inlocalcurrencycomparedwithfiscal2022.Resources:$8.86billion,anincreaseof10%inU.S.dollarsand
15%inlocalcurrencycomparedwithfiscal2022.Returning
Cash
to
ShareholdersAccenturecontinuestoreturncashtoshareholdersthroughcashdividendsandsharerepurchases.Infiscal2023,thecompanyreturned
$7.2billiontoshareholders,including
$2.8billionincashdividendsand
$4.3billioninsharerepurchases.DividendOn
August15,2023,aquarterlycashdividendof
$1.12persharewaspaidtoshareholdersofrecordatthecloseofbusinesson
July13,2023.
Thesecashdividendpaymentstotaled$706million,bringingdividendpaymentsforthefullyearto
$2.83billion,comparedwith$2.46billioninfiscal2022.Accentureplchasdeclaredaquarterlycashdividendof
$1.29pershare,forshareholdersofrecordatthecloseofbusinesson
October12,2023.
Thisdividend,whichispayableonNovember15,2023,representsa15%increaseoverthecompany’spreviousquarterlydividend.Share
Repurchase
ActivityDuringthefourthquarteroffiscal2023,
Accenturerepurchasedorredeemed
3.2millionshares,including3.1millionsharesrepurchasedintheopenmarket,foratotalof
$1.0billion.
Thisbroughttotalsharerepurchasesandredemptionsforthefullfiscalyearto
15.3millionshares,including12.8millionsharesrepurchasedintheopenmarket,foratotalof
$4.3billion.Thecompany’sBoardofDirectorshasapproved
$4.0billioninadditionalsharerepurchaseauthority,bringing
Accenture’stotaloutstandingauthoritytoapproximately
$6.5billion.At
August31,2023,
Accenturehadapproximately629
milliontotalsharesoutstanding.Business
OutlookFirst
Quarter
Fiscal
2024Accentureexpectsrevenuesforthefirstquarterof
fiscal2024tobeintherangeof$15.85billionto$16.45billion,or-2%to2%inlocalcurrency,
reflectingthecompany’sassumptionofapositive2.5%foreign-exchangeimpactcomparedwiththefirstquarterof
fiscal2023.Fiscal
Year
2024Accenture’sbusinessoutlookforthefull2024fiscalyearassumesthattheforeign-exchangeimpactonitsresultsinU.S.dollarswillbeflatcomparedwith
fiscal2023.Forfiscal2024,thecompanyexpectsrevenuegrowthtobeintherangeof2%to5%inlocalcurrency.AccentureexpectsGAAP
operatingmarginfor
fiscal2024tobeintherangeof14.8%to15.0%,anexpansionof110
to130basispointsfromfiscal2023,andadjustedoperatingmargin,whichexcludesanestimated$450millionforbusinessoptimizationcosts,tobeintherangeof15.5%to15.7%,anexpansionof10to30basispointsfrom
fiscal2023.ThecompanyexpectsbothitsGAAP
andadjustedannualeffectivetaxrate,whichexcludesthetaximpactsofbusinessoptimizationcosts,tobeintherangeof23.5%to25.5%.ThecompanyexpectsGAAP
dilutedEPStobeintherangeof$11.41
to$11.76,
anincreaseof6%to9%overfiscal2023andadjustedEPStobeintherangeof$11.97
to$12.32,anincreaseof3%to6%overfiscal2023.
Thisexcludes$0.56forbusinessoptimizationcostsinfiscal2024.Forfiscal2024,thecompanyexpectsoperatingcashflowtobeintherangeof$9.3billionto$9.9billion;propertyandequipmentadditionstobe$600million;andfreecashflowtobeintherangeof$8.7billionto$9.3billion.Thecompanyexpectstoreturnatleast$7.7billionincashtoshareholdersthroughdividendsandsharerepurchases.360°
Value
ReportingAccenture’sgoalistocreate360°valueforourclients,people,shareholders,partners,andcommunities.
To
enhancetransparencyandprovideacomprehensiveviewforallstakeholders,wehavecombinedourfinancialandenvironmental,socialandgovernance(ESG)reportingintoadigital-firstexperience.
To
accessourgoals,progressandperformance,pleasevisittheAccenture360°Value
ReportingExperience(/reportingexperience).Conference
Call
and
Webcast
DetailsAccenturewillhostaconferencecallat8:00a.m.EDT
todaytodiscussitsfourth-quarterandfiscal2023financialresults.
To
participate,pleasedial+1(877)692-8955
[+1(234)720-6979outsidetheUnitedStates,PuertoRicoandCanada]andenteraccesscode
4466414approximately15minutesbeforethescheduledstartofthecall.
TheconferencecallwillalsobeaccessibleliveontheInvestorRelationssectionofthe
AccentureWebsiteat.A
replayoftheconferencecallwillbeavailableatbeginningat11:00
a.m.EDT
today,
September28,andcontinuingthroughMonday,
December18,2023.
Thereplaywillalsobeavailableviatelephonebydialing+1(866)207-1041[+1(402)970-0847outsidetheUnitedStates,PuertoRicoandCanada]andenteringaccesscode5848756from
11:00
a.m.EDT
today,
September28,throughMonday,
December18,2023.About
AccentureAccentureisaleadingglobalprofessionalservicescompanythathelpstheworld’sleadingbusinesses,governmentsandotherorganizationsbuildtheirdigitalcore,optimizetheiroperations,acceleraterevenuegrowthandenhancecitizenservices—creatingtangiblevalueatspeedandscale.We
areatalentandinnovationledcompanywith
733,000peopleservingclientsinmorethan120countries.
Technology
isatthecoreofchangetoday,
andweareoneoftheworld’sleadersinhelpingdrivethatchange,withstrongecosystemrelationships.Wecombineourstrengthintechnologywithunmatchedindustryexperience,functionalexpertiseandglobaldeliverycapability.We
areuniquelyabletodelivertangibleoutcomesbecauseofourbroadrangeofservices,solutionsandassetsacrossStrategy&Consulting,
Technology,Operations,IndustryXand
AccentureSong.
Thesecapabilities,togetherwithourcultureofsharedsuccessandcommitmenttocreating360°value,enableustohelpourclientssucceedandbuildtrusted,lastingrelationships.We
measureoursuccessbythe360°valuewecreateforourclients,eachother,
ourshareholders,partnersandcommunities.
Visitusat.Non-GAAP
Financial
InformationThisnewsreleaseincludescertainnon-GAAP
financialinformationasdefinedbySecuritiesandExchangeCommissionRegulationG.Pursuanttotherequirementsofthisregulation,reconciliationsofthisnon-GAAP
financialinformationto
Accenture’sfinancialstatementsaspreparedundergenerallyacceptedaccountingprinciples(GAAP)areincludedinthispressrelease.Financialresults“inlocalcurrency”arecalculatedbyrestatingcurrent-periodactivityintoU.S.dollarsusingthecomparableprior-yearperiod’sforeign-currencyexchangerates.
Accenture’smanagementbelievesprovidinginvestorswiththisinformationgivesadditionalinsightsinto
Accenture’sresultsofoperations.While
Accenture’smanagementbelievesthatthenon-GAAP
financialmeasureshereinareusefulinevaluating
Accenture’soperations,thisinformationshouldbeconsideredassupplementalinnatureandnotasasubstitutefortherelatedfinancialinformationpreparedinaccordancewithGAAP.
Accentureprovidesfull-yearrevenueguidanceonalocal-currencybasisandnotinU.S.dollarsbecausetheimpactofforeignexchangeratefluctuationscouldvarysignificantlyfromthecompany’sstatedassumptions.Forward-Looking
StatementsExceptforthehistoricalinformationanddiscussionscontainedherein,statementsinthisnewsreleasemayconstituteforward-lookingstatementswithinthemeaningofthePrivateSecuritiesLitigationReform
Actof1995.Wordssuchas“may,”
“will,”“should,”“likely,”“anticipates,”“aspires,”“expects,”“intends,”“plans,”“projects,”“believes,”“estimates,”“positioned,”“outlook,”“goal,”“target,”andsimilarexpressionsareusedtoidentifytheseforward-lookingstatements.Thesestatementsarenotguaranteesoffutureperformancenorpromisesthatgoalsortargetswillbemet,andinvolveanumberofrisks,uncertaintiesandotherfactorsthataredifficulttopredictandcouldcauseactualresultstodiffermateriallyfromthoseexpressedorimplied.
Theserisksinclude,withoutlimitation,risksthat:
Accenture’sresultsofoperationshavebeen,andmayinthefuturebe,adverselyaffectedbyvolatile,negativeoruncertaineconomicandpoliticalconditionsandtheeffectsoftheseconditionsonthecompany’sclients’
businessesandlevelsofbusinessactivity;
Accenture’sbusinessdependsongeneratingandmaintainingclientdemandforthecompany’sservicesandsolutionsincludingthroughtheadaptationandexpansionofitsservicesandsolutionsinresponsetoongoingchangesintechnologyandofferings,andasignificantreductioninsuchdemandoraninabilitytorespondtotheevolvingtechnologicalenvironmentcouldmateriallyaffectthecompany’sresultsofoperations;if
Accentureisunabletomatchpeopleandtheirskillswithclientdemandaroundtheworldandattractandretainprofessionalswithstrongleadershipskills,thecompany’sbusiness,theutilizationrateofthecompany’sprofessionalsandthecompany’sresultsofoperationsmaybemateriallyadverselyaffected;
Accenturefaceslegal,reputationalandfinancialrisksfromanyfailuretoprotectclientand/orcompanydatafromsecurityincidentsorcyberattacks;themarketsinwhichAccentureoperatesarehighlycompetitive,and
Accenturemightnotbeabletocompeteeffectively;
Accenture’sabilitytoattractandretainbusinessandemployeesmaydependonitsreputationinthemarketplace;
Accenture’senvironmental,socialandgovernance(ESG)commitmentsanddisclosuresmayexposeittoreputationalrisksandlegalliability;if
Accenturedoesnotsuccessfullymanageanddevelopitsrelationshipswithkeyecosystempartnersorfailstoanticipateandestablishnewalliancesinnewtechnologies,thecompany’sresultsofoperationscouldbeadverselyaffected;
Accenture’sprofitabilitycouldmateriallysufferifthecompanyisunabletoobtainfavorablepricingforitsservicesandsolutions,ifthecompanyisunabletoremaincompetitive,ifitscost-managementstrategiesareunsuccessfulorifitexperiencesdeliveryinefficienciesorfailtosatisfycertainagreed-upontargetsorspecificservicelevels;changesin
Accenture’sleveloftaxes,aswellasaudits,investigationsandtaxproceedings,orchangesintaxlawsorintheirinterpretationorenforcement,couldhaveamaterialadverseeffectonthecompany’seffectivetaxrate,resultsofoperations,cashflowsandfinancialcondition;
Accenture’sresultsofoperationscouldbemateriallyadverselyaffectedbyfluctuationsinforeigncurrencyexchangerates;changestoaccountingstandardsorintheestimatesandassumptions
Accenturemakesinconnectionwiththepreparationofitsconsolidatedfinancialstatementscouldadverselyaffectitsfinancialresults;asaresultof
Accenture’sgeographicallydiverseoperationsandstrategytocontinuetogrowinkeymarketsaroundtheworld,thecompanyismoresusceptibletocertainrisks;ifAccentureisunabletomanagetheorganizationalchallengesassociatedwithitssize,thecompanymightbeunabletoachieveitsbusinessobjectives;
Accenturemightnotbesuccessfulatacquiring,investinginorintegratingbusinesses,enteringintojointventuresordivestingbusinesses;
Accenture’sbusinesscouldbemateriallyadverselyaffectedifthecompanyincurslegalliability;
Accenture’sglobaloperationsexposethecompanytonumerousandsometimesconflictinglegalandregulatoryrequirements;
Accenture’sworkwithgovernmentclientsexposesthecompanytoadditionalrisksinherentinthegovernmentcontractingenvironment;if
Accentureisunabletoprotectorenforceitsintellectualpropertyrightsorif
Accenture’sservicesorsolutionsinfringeupontheintellectualpropertyrightsofothersorthecompanylosesitsabilitytoutilizetheintellectualpropertyofothers,itsbusinesscouldbeadverselyaffected;
AccenturemaybesubjecttocriticismandnegativepublicityrelatedtoitsincorporationinIreland;aswellastherisks,uncertaintiesandotherfactorsdiscussedunderthe“RiskFactors”headingin
Accentureplc’smostrecent
AnnualReportonForm10-KandotherdocumentsfiledwithorfurnishedtotheSecuritiesandExchangeCommission.Inaddition,thetimingandamountofcostsrelatedtoourbusinessoptimizationactionsandthenatureandextentofbenefitsrealizedfromsuchactionsaresubjecttouncertaintiesandotherfactors,includinglocalcountryconsultationprocessesandregulations,andmaydifferfromourcurrentexpectationsandestimates.Statementsinthisnewsreleasespeakonlyasofthedatetheyweremade,and
Accentureundertakesnodutytoupdateanyforward-lookingstatementsmadeinthisnewsreleaseortoconformsuchstatementstoactualresultsorchangesinAccenture’sexpectations.###Contacts:RachelFreyAccentureMediaRelations+19174524421rachel.frey@KatieO’ConorAccentureInvestorRelations+19733013275catherine.m.oconor@Accenture
plcConsolidated
Income
Statements(In
thousands
of
U.S.
dollars,
except
share
and
per
share
amounts)(Unaudited)Three
Months
EndedYear
EndedAugust
31,2023%
ofRevenuesAugust
31,2022%
ofRevenuesAugust
31,2023%
ofRevenuesAugust
31,2022%
ofRevenuesREVENUES:Revenues$
15,985,200100.0
%
$
15,423,656100.0
%
$
64,111,745100.0
%
$
61,594,305100.0
%OPERATING
EXPENSES:Costofservices10,803,5711,730,4221,066,404471,88314,072,280
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