Accenture FY21 revenue at $51 billion

BENGALURU: Accenture’s results for its fiscal year ended August were nothing short of a blockbuster. Revenue rose to a record $50.5 billion, a 14% jump in dollar terms and 11% in local currency. Operating margin expanded 40 basis points to 15.1%.
The company increased its workforce in the year by as many as 118,000. Some 66,000 of those were added in the fourth quarter alone. In an effort to retain people, the company has rolled out over 120,000 promotions.
The strong numbers sent the share price up by 2.6% in early trade on the NYSE on Thursday. Accenture has forecast revenue growth of 12% to 15% in local currency for the 2022 fiscal year. New bookings were at $15 billion for the fourth quarter and a record $59.3 billion for the full year, a 20% increase in US dollars over 2020 fiscal new bookings. Accenture has over 2 lakh employees in India, out of the 6.2 lakh globally.
Accenture CEO Julie Sweet said, “FY21 demonstrated our leadership in helping our clients achieve compressed transformation, with 72 clients with bookings greater than $100 million, compared to 52 last year. And 229 diamond clients, our largest client relationships, compared to 216 last year.” Sweet said Accenture witnessed a strong momentum across all dimensions of its business across geographic markets, industries, and services.
Accenture’s consulting revenue was $27.3 billion, an increase of 13% in US dollars and 9% in local currency compared to the previous fiscal. Its outsourcing revenues were $23.2 billion, an increase of 15% in US dollars and 13% in local currency.
Sweet said cloud has emerged as a centrepiece to the digital transformation programmes. “At the beginning of FY21, after investing in the cloud for a decade, we saw that the pandemic would dramatically accelerate our clients’ move to the cloud. More than technology, the move to the cloud would be about the adoption of a new operating system for future enterprise, a dynamic continuum of capabilities from the public, to edge, to everything in between, opening up radically new ways for companies to work, compete, and drive value. Accenture Cloud First was the biggest driver of our overall cloud business growth, from $12 billion to $18 billion, a 44% increase,” she said.

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