$Accenture PLC(ACN)$ Accenture released their earnings pre-market this morning, the company outperformed analyst's earnings expectations with bookings growth recovering, alongside revenue's estimates being surpassed. This was the result of AI fueling demand where Generstive AI new bookings reached $1.8 billion in the quarter.
Despite the earnings beat and analyst's outperform ratings being maintained, Accenture has reached a 52 week low, dropping 2% at its bottom. Personally, I have just about 10% of my portfolio allocated into the stock as I expected an earnings bear (which happened) and a decent surge of at least 2% (which unfortunately didn't happen).
Middle-term forecast seems optimistic, with AI boosting demands and the company taking the approach to ensure staff are trained for AI and improve strategic structuring (by increasing staff count by over 15k employees)
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