Accenture reported financial results for the first quarter of fiscal 2020, ended Nov. 30, 2019, with revenues of $11.4 billion, an increase of 7 percent in U.S. dollars and 9 percent in local currency over the same period last year.
Diluted earnings per share were $2.09, an increase of 7 percent from the first quarter last year. Operating income was $1.77 billion, an 8 percent increase over the same period last year, and operating margin was 15.6 percent, an expansion of 20 basis points. New bookings for the quarter were $10.3 billion.
Consulting revenues for the quarter were $6.38 billion, and outsourcing revenues were $4.98 billion.
Revenues for the Growth Markets including the Chinese market were $2.28 billion, an increase of 12 percent in U.S. dollars and 13 percent in local currency.
Julie Sweet, Accenture’s chief executive officer, said in the earnings call that
China is a key strategic market for Accenture and its global clients
.
Julie Sweet said, “We are very pleased with our strong first quarter financial results and the continued momentum across our business. With 9 percent revenue growth in local currency, we again gained significant market share. We also delivered strong profitability and cash flow, and returned $1.2 billion in cash to shareholders while continuing to invest significantly in our business.
Our strong, broad-based results across industries and geographic markets reflect the diversity and scale of Accenture’s business around the world. With our unparalleled technology capabilities, deep industry and function expertise, focus on continuous innovation, and incredibly talented people, we are uniquely positioned to continue driving value for our clients and all our stakeholders.”
For fiscal 2020, the company now expects revenue growth to be in the range of 6 percent to 8 percent in local currency. The company now expects diluted EPS to be in the range of $7.66 to $7.84. Accenture continues to expect operating margin for the full fiscal year to be in the range of 14.7 percent to 14.9 percent.
