(Reuters) -IT solutions company Accenture on Thursday revealed a $4.0 billion share buyback and reported better-than-expected fourth-quarter profits many thanks to require from business aiming to embrace generative expert system innovation.
Shares of the business were up virtually 7% in premarket trading.
The Dublin- based business reported fourth-quarter profits of $16.41 billion, compared to experts assumptions of $16.38 billion, according to LSEG information.
Its generative AI organization, which assisted the business countered the stagnation popular for IT solutions, remained to expand for a 4th succeeding quarter.
Accenture’s brand-new reservations, a crucial statistics suggesting the worth of consumer agreements with investing dedications, climbed to $20.1 billion for the 4th quarter, up from $17.25 billion in the 3rd quarter.
Generative AI reservations added $1 billion to the business’s brand-new reservations, contrasted to $900 million in the previous quarter.
(Reporting by Rishi Kant in Bengaluru; Editing by Janane Venkatraman and Tasim Zahid)
