Accenture PLC (NYSE: ACN) shares are trading lower by around 5% after it reported Q4 FY23 results.
The company reported Q4 revenue growth of 4% Y/Y to $15.98 billion, missing the consensus of $16.07 billion.
Consulting revenues decreased by 2% Y/Y to $8.20 billion, while Managed Services revenues increased by 10% Y/Y to $7.79 billion.
New bookings fell 10% Y/Y to $16.6 billion in the quarter.
Adjusted operating margin was 14.9%, an expansion of 20 bps. The gross margin expanded by 30 bps to 32.4%.
Adjusted EPS of $2.71 beat the consensus of $2.66.
Free cash flow was $3.23 billion, down from $3.61 billion ...