Accenture reports over $900M in Q3 bookings from gen. AI

Accenture (ACN) has reported over $900 million in bookings from generative AI during its third quarter, according to the professional services company's latest earnings report.

Morning Brief Anchors Brad Smith and Madison Mills report more on the earnings figures and how AI trends are playing Accenture's stock price.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl

Video transcript

Shares of Centre, also moving higher after reporting $900 million in bookings from General A. I during the third quarter.

Stock, however, is still down over 18% so far this year.

And I want to take a look at what we are seeing in terms of the overall moves for Accenture, because this is yet another name that we've been talking about Brad, that continues to try and find ways to incorporate the A. I trade again, this name down 18% year to date, 10% over the past year.

The question whether or not Accenture's kind of Gen A. I edition here is going to be enough to add on some much needed support for the stock.

Yeah, not exactly a company that everybody talks about at the breakfast, lunch or dinner table on a daily basis.

But it is important, given the fact that it is the highest market cap company that's going to be reporting earnings over the course of this week.

Now you mentioned the key thing and what they were talking about with their own generative A I bookings that they did see revenues all in.

That ultimately, though, was a decrease of about 1%.

Um, an increase in, uh, 1.1 0.4% in local currency compared to the third quarter fiscal 2023.

All of these things said they're saying that they're scaling in their business with another 35 acquisitions $5.2 billion of capital deployed year to date.

So, uh, tonne of efforts that's going forward within Accenture in order to really generate even more.

And that $2 billion in generative a i sales year to date, $500 million in revenue year to date, which demonstrates what they say.

An early lead in the critical technology.

Interpret that as you want.

But, uh, they're calling it an early lead at least right now.

I mean, you can call it an early lead if you want, but the street it is gonna decide whether or not you are right