Accenture (ACN) shares wavered between gains and losses in early trading Tuesday after the professional services company beat earnings and sales estimates on gains in 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) bookings, but gave weaker-than-expected guidance as clients pulled back on spending.  

The Dublin-based company posted a profit of $3.27 per share in its first quarter fiscal 2024, with revenue up 3% from a year ago to $16.22 billion. Both were above forecasts.

Sales increased 9% in the Europe, Middle East, and Africa segment, and 2% in growth markets. They fell 1% in North America. New bookings jumped 14% from the thir𓆉d quarter to $18.45 billion.

CEO Julie Sweet noted that the company had 30 clients with quarterly bookings of more than $100 million. In addition, it had more than $450 million in new bookings related to 澳洲幸运5官方开奖结果体彩网:generative AI.

Accenture predicts revenue in the second fiscal quarter will be in a range of $15.40 billion to $16 billi🅷on. Analysts had been anticipating $16.25 billion.

Sweet explained that Accenture was seeing a continuing decline in discretionary spending, which negatively impacts its consulting type of work. 

Shares of Accenture were 0.4% lower at $340.43 per share as of about 12:30 p.m. ET. They’ve added about one-quarter of their value in 2023.