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Accenture has reported strong revenue growth of 15% YoY constant currency, 5.2% YoY U.S. dollar in Q1 FY23 (Nov 22-end), above the guided range of 10-14% YoY CC.
Adjusting for foreign exchange impact, which was higher at negative 9.5% versus guidance of negative 8.5%, revenue was ~$150 million higher than the top end of the guidance. Accenture had provided a moderate guidance of 8-11% YoY CC revenue growth for FY23 in the previous quarter (Q4 FY22) factoring macro headwinds.
The company maintained its FY23 revenue guidance which includes inorganic contribution of 2.5%. However, it now expects forex impact to be negative 5% versus negative 6% expected earlier.
This translates to 3-6% YoY U.S. dollar growth (versus 2-5% YoY U.S. dollar earlier) for FY23.
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