Qualcomm Stock Falls as Weak Q4 Forecast, Apple Revenue Decline Overshadow AI Data Center Growth 
Oil Prices Head for 20% Monthly Surge as Middle East Supply Risks Persist 
US Stocks Slide as Fed Holds Rates, AI Chip Selloff Deepens and Oil Prices Surge 
Japan Yen Surges on Reported FX Intervention as Dollar Slides After Fed, BoE Holds Rates 
BOJ Holds Rates at 1% as Inflation Outlook Eases, October Rate Hike Still Possible 
China PMI Contracts in July as Weak Demand and Typhoons Weigh on Economy 
Iran Warns of Retaliation as Trump Threatens New Strikes, Oil Risks Intensify 
US Stock Futures Rise as Amazon Earnings Boost AI Optimism Despite Apple Selloff 
South Korea’s KOSPI Soars as Samsung, SK Hynix Rebound on Microsoft-Fueled AI Rally 
China PMI Falls Into Contraction as Manufacturing, Services Weaken in July 
Asian Stocks Rally as AI Optimism Lifts Markets; Yen Holds Gains Ahead of BOJ Decision 
Apple Q3 Earnings Beat as Record iPhone Sales Offset Services, China Weakness 
Oil Prices Jump as Trump Vows Response to Iran Attack, Supply Risks Return 
South Korea Exports Surge 62.8% in July on AI Chip Demand 
Fed Holds Rates Steady as US Dollar Slides, Euro and Yen Gain 
Meta Stock Drops After Earnings Miss as AI Spending and Legal Costs Weigh on Profit 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
Accenture posted $17.7 billion in first-quarter revenue, surpassing estimates, with $1.2 billion generated by its booming generative AI services. The results highlight strong demand for AI adoption across industries.
Generative AI Propels Accenture’s First-Quarter Revenue
An increase in demand for Accenture's services to assist clients in adopting AI-powered solutions contributed to the company's first-quarter revenue beating Wall Street projections, which it announced on Thursday, Reuters reports.
During the premarket trading session, the company's shares increased by 5%.
Businesses are pouring resources into expanding their artificial intelligence initiatives and digitizing their essential processes to improve productivity and reduce expenses. This bodes well for organizations like Accenture.
Accenture’s New Bookings Reach $18.7 Billion
The amount of new bookings made by the corporation increased to $18.7 billion for the first quarter, which is an increase from $18.4 billion for the same period last year.
Analysts had predicted that technology funding for FY 2025 would rise, which is good news for IT service providers like EPAM and Accenture, even before the findings were announced.
Generative AI Division Leads Revenue Surge
New business for Accenture's GenerativeAI division came in at $1.2 billion, while the consulting and outsourcing divisions brought in $9.2 and $9.5 billion, respectively.
According to data provided by LSEG, its first-quarter sales was $17.7 billion, which was more than the $17.12 billion predicted by analysts.
Annual Growth Forecast Revised Upward
Although analysts were expecting a growth of 5.63 percent in yearly revenue, the corporation is projecting a growth of 4 to 7 percent. Earlier projections indicated a growth of 3-6%, Investing.com explains.
The revenue that Accenture forecasts for the second quarter is between $16.2 billion and $16.8 billion, with the midpoint of this range being lower than the average estimate of $16.63 billion that analysts have provided.
