Accenture has announced Q1 FY21 results, for the period ending November 30, 2020:

• Revenues were $11,762m, up 3.5% y/y, up 2% in CC
• Operating income (EBIT) was $1,891m, a margin of 16.1%, up 52 bps y/y.

Q1 FY21 revenue (with reported and constant currency growth) by service line was:

• Consulting and systems integration $6,333m (-0.7%) (-2% in CC)
• Outsourcing $5,430m (+9.0%) (+8% in CC).

Q1 FY21 revenue (with reported and CC growth) by industry sector was:

• Products $3,206m (-0.3%) (-3% in CC)
• Communications, Media & Technology $2,334m (+3.9%) (+3% in CC)
• Financial services $2,346m (+7.1%) (+5% in CC)
• Resources $1,665m (-4.0%) (-5% in CC)
• Health & Public Services (HPS) $2,212m (+12.3%) (+11% in CC)

Q1 FY21 revenue (and revenue growth) by geography was:

• North America $5,4181m (+3.7%) (+4% in CC)
• Europe $3,967m (+4.7%) (-1% in CC)
• Growth Markets $2,313m (+1.4%) (+3% in CC).

New bookings in the quarter were $12.93bn (Q1 FY 2019: $10.34n). Bookings by service type were:

• Consulting $6.64bn, a book-to-bill of 1.05
• Outsourcing $6.29bn., a book-to-bill of 1.16

Utilization in the quarter was 93%, up from 91% in Q4 FY20.
Attrition for the quarter was 9%, up  from 7% in Q4 FY20 and up from 14% in Q1 FY20.

Accenture’s total cash balance at November 20, 2020 was $8.6bn, compared with $8.4bn at August 31, 2020.

Revenue guidance for:

• Q2 FY20 is in the range of $11.55bn to $11.95bn, a y/y growth of 1% to 4%
• FY21 is of CC growth of 4% to 6%