NEW YORK - Accenture (NYSE: ACN) reported financial results for the first quarter of fiscal 2022, ended Nov. 30, 2021, with revenues of $15.0 billion, an increase of 27% in both U.S. dollars and local currency over the same period last year.

Diluted earnings per share were $2.78, a 20% increase from $2.32 for the first quarter last year, which included $0.15 in gains on an investment. On an adjusted basis, EPS increased 28% from $2.17 for the first quarter last year. Operating income was $2.43 billion, a 29% increase over the same period last year, and operating margin was 16.3%, an expansion of 20 basis points. New bookings for the quarter were a record $16.8 billion, with record consulting bookings of $9.4 billion and outsourcing bookings of $7.4 billion.

Julie Sweet, Accenture's Chair & CEO, said, 'We were pleased to continue delivering 360-degree value for our clients as they accelerate their digital transformations. Our outstanding first-quarter financial performance and ability to capitalize on the market opportunity reflects continued market share gains. This is the direct result of having executed for years a strategy to rotate our business to digital, cloud and security, both hiring and upskilling exceptionally talented people across the globe and fostering deep relationships with both the world's leading companies and our technology partners. I am especially proud that we added 50,000 people to our workforce this quarter, now at 674,000, reflecting our strong employee experience, which enables us to attract and grow great people.' 'Our goal is to create 360-degree value for all our stakeholders and reflects our growth strategy, our core values and our culture of shared success - succeeding not only financially, but in dimensions of value such as inclusion and diversity, reskilling, sustainability and experience. And today, we are launching our integrated 360-degree Value Reporting Experience, a new way to share the value we create in all directions.'

Financial Review

Revenues for the first quarter of fiscal 2022 were $14.97 billion, compared with $11.76 billion for the first quarter of fiscal 2021, an increase of 27% in both U.S. dollars and local currency. Revenues were more than $600 million above the company's guided range of $13.90 billion to $14.35 billion. The foreign-exchange impact for the quarter was approximately flat, compared with the assumption of a positive 0.5% impact provided in the company's fourth-quarter earnings release.

New Bookings

New bookings for the first quarter were a record $16.8 billion, a 30% increase in both U.S. dollars and local currency from the first quarter last year.

Consulting new bookings were a record $9.4 billion, or 56% of total new bookings.

Outsourcing new bookings were $7.4 billion, or 44% of total new bookings.

Revenues by Geographic Market

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services - all powered by the world's largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.

Forward-Looking Statements

Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'may,' 'will,' 'should,' 'likely,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'projects,' 'believes,' 'estimates,' 'positioned,' 'outlook' and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the COVID-19 pandemic has impacted Accenture's business and operations, and the extent to which it will continue to do so and its impact on the company's future financial results are uncertain; Accenture's results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company's clients' businesses and levels of business activity; Accenture's business depends on generating and maintaining ongoing, profitable client demand for the company's services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company's results of operations; if Accenture is unable to match people and skills with client demand around the world and attract and retain professionals with strong leadership skills, the company's business, the utilization rate of the company's professionals and the company's results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture's ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company's results of operations could be adversely affected; Accenture's profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture's level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company's effective tax rate, results of operations, cash flows and financial condition; Accenture's results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders' ownership interest in the company; as a result of Accenture's geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture's business could be materially adversely affected if the company incurs legal liability; Accenture's global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture's work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture's services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture's results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the 'Risk Factors' heading in Accenture plc's most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture's expectations.

Contact:

Stacey Jones

Tel: +1 (917) 452-6561

Email: stacey.jones@accenture.com

(C) 2021 Electronic News Publishing, source ENP Newswire