Accenture (ACN, Financial) was a key focus in the Aoris 2024 Q2 fund letter, where it was noted for its resilience despite facing short-term challenges. The company, recognized as the world’s largest IT outsourcing and consulting firm, saw its stock price decline by 14% during the quarter. This was attributed to a period of flat revenue and earnings growth following a surge in post-pandemic demand. However, the fund letter highlighted Accenture's strong underlying demand, evidenced by a 22% year-on-year increase in client bookings, which bodes well for future revenue and earnings growth.
"Accenture is the world’s largest IT outsourcing and consulting company. While earnings in its quarter ended May was essentially flat, we were very encouraged by underlying demand. This demand strength is reflected in a 22% year-on-year increase in client bookings for the quarter." — Aoris Investment Management, Aoris 2024 Q2 Fund Letter
Read full letter at gurufocus Aoris 2024 Q2 page.
