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Reading: Accenture unveils $4 billion share buyback as AI powers sturdy quarterly income By Reuters
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Accenture unveils  billion share buyback as AI powers sturdy quarterly income By Reuters
The Tycoon Herald > Business > Accenture unveils $4 billion share buyback as AI powers sturdy quarterly income By Reuters
Business

Accenture unveils $4 billion share buyback as AI powers sturdy quarterly income By Reuters

Tycoon Herald
By Tycoon Herald 1 Min Read Published September 26, 2024
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(Reuters) -IT providers agency Accenture (NYSE:) on Thursday unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter income due to demand from corporations trying to undertake generative synthetic intelligence know-how.

Shares of the corporate have been up almost 7% in premarket buying and selling.

The Dublin-based firm reported fourth-quarter income of $16.41 billion, in contrast with analysts expectations of $16.38 billion, in keeping with LSEG information.

Its generative AI enterprise, which helped the corporate offset the slowdown in demand for IT providers, continued to develop for a fourth successive quarter.

Accenture unveils  billion share buyback as AI powers sturdy quarterly income By Reuters

Accenture’s new bookings, a key metric indicating the worth of buyer contracts with spending commitments, rose to $20.1 billion for the fourth quarter, up from $17.25 billion within the third quarter.

Generative AI bookings contributed $1 billion to the corporate’s new bookings, in comparison with $900 million within the earlier quarter.

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