Accenture plc stock research
FY2024 Q1
Accenture (ACN) Gross Margin — Quarter Ended Nov 30, 2023
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Cost of revenue was stable versus the prior quarter but higher than the year-ago period, while gross margin improved relative to both comparison periods.
Gross margin takeaway
Quarter ended Nov 30, 2023 · FY2024 Q1
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Cost of revenue was stable versus the prior quarter but higher than the year-ago period, while gross margin improved relative to both comparison periods.
- Gross profit grew faster than revenue, leading to an improved gross margin. The relationship between revenue and cost of revenue shifted favorably compared to both the prior quarter and the year-ago quarter.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was stable, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.6%
Gross profit
$5.4B
Revenue
$16.2B
Cost of revenue
$10.8B
Quarter-over-quarter change
+0.2 pts
Year-over-year change
+0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Feb 28, 2023 | $15.8B | $4.8B | $11.0B | 30.6% |
| May 31, 2023 | $16.6B | $5.5B | $11.0B | 33.4% |
| Nov 30, 2023 | $16.2B | $5.4B | $10.8B | 33.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
May 31, 2023
+0.2 pts
Year-over-year change
Nov 30, 2022
+0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew faster than revenue, leading to an improved gross margin. The relationship between revenue and cost of revenue shifted favorably compared to both the prior quarter and the year-ago quarter.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was stable, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin also improved.
Monitor the trend in cost of revenue relative to revenue, as it remained stable sequentially despite higher revenue.