Accenture has announced Q1 FY20 results, for the period ending November 30, 2020:

• Revenues were $11,359m, up 7.1% y/y, up 9.0% in CC
• Operating income (EBIT) was $1,767m, a margin of 15.6%, up 20 bps y/y.

Q1 FY20 revenue (with reported and constant currency growth) by service line was:

• Consulting and systems integration $6,377m (+6.9%) (+9% in CC)
• Outsourcing $4,869m (+7.4%) (+9% in CC).

Q1 FY20 revenue (with reported and CC growth) by industry sector was:

• Products $3,217m (+9.8%) (+12% in CC)
• Communications, Media & Technology $2,245m (+5.2%) (+7% in CC)
• Financial services $2,190m (+3.3%) (+6% in CC)
• Resources $1,733m (+5.0%) (+7% in CC)
• Health & Public Services (HPS) $1,969m (+12.2%) (+13% in CC)
• Other $4.8m (Q4 FY 2018: $16.3m).

Q1 FY20 operating income and margin (with margin in the prior year period) by operating group was:

• Products $522m, 16.2% (14.9%)
• Communications, Media & Technology $391m, 17.4% (18.1%)
• Financial services $316m, 14.4% (17.0%)
• Resources $286m, 16.5% (14.9%)
• Health & Public Services (HPS) $242m, 12.3% (11.3%)

Q1 FY20 revenue (and revenue growth) by geography was:

• North America $5,288m (+8.9%) (+9% in CC)
• Europe $3,790m (2.2%) (+7% in CC)
• Growth Markets $2,281m (+11.8%) (+13% in CC).

New bookings in the quarter were $10.34n (Q1 FY 2019: $10.19bn). Bookings by service type were:

• Consulting $6.04bn, a book-to-bill of 0.95
• Outsourcing $4.30bn., a book-to-bill of 0.86

Utilization in the quarter was 91%, the same as in Q4 FY19.
Attrition for the quarter was 14%, down from 19% in Q4 FY19 and up from 13% in Q1 FY19.

Accenture’s total cash balance at August 31, 2019 was $5.8bn, compared with $6.1bn at August 31, 2019.

Revenue guidance for:

• Q2 FY20 is in the range of $10.85bn to $11.15bn, a y/y growth of 5% to 8%
• FY20 is of CC growth of 6% to 8%