(Reuters) -IT companies agency Accenture (NYSE:) on Thursday unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter income because of demand from corporations trying to undertake generative synthetic intelligence know-how.
Shares of the corporate have been up practically 7% in premarket buying and selling.
The Dublin-based firm reported fourth-quarter income of $16.41 billion, in contrast with analysts expectations of $16.38 billion, in response to LSEG knowledge.
Its generative AI enterprise, which helped the corporate offset the slowdown in demand for IT companies, continued to develop for a fourth successive quarter.
Accenture’s new bookings, a key metric indicating the worth of buyer contracts with spending commitments, rose to $20.1 billion for the fourth quarter, up from $17.25 billion within the third quarter.
Generative AI bookings contributed $1 billion to the corporate’s new bookings, in comparison with $900 million within the earlier quarter.
