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华尔街日报5 Revealing Analyst Questions From Accenture’s Q4 Earnings Call
Accenture’s fourth quarter results came in ahead of Wall Street’s expectations, with management highlighting broad-based demand for complex digital transformation and the scaling of enterprise artificial intelligence (AI) projects as key contributors. CEO Julie Sweet noted that the company’s client base is increasingly seeking end-to-end reinvention rather than isolated AI pilots, with over $1.1 billion in advanced AI revenue and a near doubling of AI-related bookings year-over-year. Strong performance in managed services and security, as well as robust traction in banking, capital markets, and software sectors, also supported growth.
Is now the time to buy ACN? Find out in our full research report (it’s free for active Edge members).
Accenture (ACN) Q4 CY2025 Highlights:
- Revenue: $18.74 billion vs analyst estimates of $18.53 billion (6% year-on-year growth, 1.2% beat)
- Adjusted EPS: $3.94 vs analyst estimates of $3.72 (5.9% beat)
- Adjusted EBITDA: $3.76 billion vs analyst estimates of $3.75 billion (20.1% margin, in line)
- Revenue Guidance for Q1 CY2026 is $17.68 billion at the midpoint, roughly in line with what analysts were expecting
- Management reiterated its full-year Adjusted EPS guidance of $13.71 at the midpoint
- Operating Margin: 15.3%, down from 16.7% in the same quarter last year
- Market Capitalization: $166.1 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Accenture’s Q4 Earnings Call
- Tien-Tsin Huang (JPMorgan) asked about the shift in the consulting industry’s role in AI. CEO Julie Sweet explained that enterprise AI requires foundational work in data and processes, differentiating Accenture as clients seek both growth and productivity gains.
- Jason Kupferberg (Wells Fargo) questioned when new AI partnerships would materially impact revenue. Sweet responded that while partnerships are scalable, the pace depends on enterprise adoption rather than technology readiness.
- James Faucette (Morgan Stanley) inquired about the mix of AI project types and evolving pricing strategies. Sweet said more engagements are moving to full production, especially in customer service and finance, and noted that improved pricing is beginning to appear in contract profitability.
- Bryan Keane (Citi) pressed for clarity on discretionary IT spend and the sustainability of fixed-price contract expansion. Sweet said discretionary spend trends are unchanged, and fixed-price deals reflect client demand for outcome certainty and Accenture’s scale advantage.
- Bryan Bergin (TD Cowen) asked about growth outlook drivers and the trajectory of Accenture Song. CFO Angie Park and Sweet indicated a consistent demand environment and that Song remains crucial for client growth initiatives, with AI tools viewed as productivity enhancers rather than replacements.
Catalysts in Upcoming Quarters
In the coming quarters, the StockStory team will be watching (1) the scale and profitability of enterprise AI deployments, as clients move from pilots to full production; (2) the continued expansion and integration of ecosystem partnerships, especially new AI and data partners; and (3) the company’s ability to manage operating margins amid ongoing headcount and talent investments. Progress in fixed-price contract adoption and execution will also be closely monitored.
Accenture currently trades at $269.93, down from $273.74 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free for active Edge members).
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