Accenture (NYSE:ACN) reported a drop in earnings for the financial fourth quarter as new bookings fell 10%.
The professional services company posted a profit of $1.37 billion, or $2.15 a share, for the three months ended August 31, 2023, down from $1.67 billion, or $2.60 a share, the year before.
Stripping out one-time items, earnings were $2.71 a share compared to a FactSet consensus of $2.65 a share.
Revenue jumped to $15.99 billion from $15.42 billion a year ago, coming in below analyst forecasts for $16.07 billion, according to FactSet.
New bookings fell to $16.6 billion from $18.4 billion a year ago, with a nearly even split of the bookings coming from consulting and managed services.
Consulting revenue overall was down 2%, while managed services revenue fell 10%.