Forward-looking metrics a bit on the soft side
Competitor and peer Accenture reported its Q3'25 report on Friday (when Swedish markets were closed) which covered the period March-May, ie over and past Liberation Day. In terms of revenue, Accenture reported local currency growth of 8% y-o-y (+3% vs cons and +3% vs guidance) as a positive surprise. Geographically, Americas grew 8%, EMEA 8% and APAC 5%. On the softer side, new bookings came in -7% y-o-y (facing a relatively tough comparable) and the Q4e revenue growth guidance of +1-5% y-o-y is a clear deceleration vs Q3. The FY guidance was raised by 1% on revenue and EPS mainly from FX movements while underlying rather a small reduction. Generative AI bookings came in at USD 1.5bn in the quarter, up 50% y-o-y. The share reacted with a -7% move on earnings, likely as a result of the declining new bookings, soft Q4e guidance and underlying reduction in FY guidance.
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