Accenture plc

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    Item 1. Business
    Overview
    Accenture is a leading solutions and global professional services company that helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed across the enterprise, bringing together the talent of our approximately 779,000 people, our proprietary assets and platforms, and deep ecosystem relationships. Our strategy is to be the reinvention partner of choice for our clients and to be the most AI-enabled, client-focused, great place to work in the world. Through our Reinvention Services we bring together our capabilities across strategy, consulting, technology, operations, Song and Industry X with our deep industry expertise to create and deliver solutions and services for our clients. Our purpose is to deliver on the promise of technology and human ingenuity, and we measure our success by the 360° value we create for all our stakeholders.
    Fiscal 2025 Highlights
    We serve clients and manage our business through three geographic markets: Americas, EMEA (Europe, Middle East and Africa) and Asia Pacific. These markets bring together all of our Reinvention Services with both local and global talent and solutions.
    We go to market by industry, leveraging our deep expertise across our five industry groups—Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources. We deliver two types of work: Consulting and Managed Services.
    $69.7B in revenues
    Our revenues are derived primarily from Forbes Global 2000 companies, governments and government agencies. Today, we work across every major market with more than 9,000 clients, including the world’s largest companies; three quarters of the Fortune Global 100 and 500.
    As of August 31, 2025, we employed approximately
    779,000 people.
    We have long-term relationships and have partnered with
    195 of our top 200 clients for 10+ years.
    Fiscal 2025 Investments
    $1.5B
    $0.8B
    $1.0B
    across 23 strategic acquisitions
    		in research and developmentin learning and professional development
    During fiscal 2025, we continued to make significant investments—in strategic acquisitions, in research and development (R&D) in our assets, platforms and industry and functional solutions, in patents and pending patents and in attracting, retaining and developing people. These investments help us to further enhance our differentiation and competitiveness in the marketplace. Our disciplined acquisition strategy, which is an engine to fuel organic growth, is focused on scaling our business in high-growth areas; adding skills and capabilities in new areas; and deepening our industry and functional expertise. In fiscal 2025, we invested $1.5 billion across 23 strategic acquisitions, $0.8 billion in R&D, and approximately $1.0 billion in learning and professional development, including approximately 47 million training hours.

    ACCENTURE 2025 FORM 10-K
    		Item 1. Business
    3
    We also use our investment capacity to drive early leadership in areas of growth. For example, our early and decisive decision in fiscal 2023 to invest significantly to become a leader in generative AI with a $3 billion multi-year investment has positioned us to capture this new area of spend for our clients.
    Geographic Markets
    Our three geographic markets—Americas, EMEA and Asia Pacific—bring together our Reinvention Services in teams, which typically consist of industry and functional experts, AI, data and technology specialists and professionals with local market knowledge and experience, to meet client needs. The geographic markets have primary responsibility for building and sustaining long-term client relationships; bringing together our expertise from around the globe and collaborating across our business to sell and deliver our full range of solutions and services; ensuring client satisfaction; and achieving revenue and profitability objectives.
    While we serve clients in locally relevant ways, our global footprint and scale in every major country give us the ability to leverage our experience and people from around the world to accelerate outcomes for our clients.
    Our three geographic markets are our reporting segments. The percent of our revenues represented by each market is shown at right.

    Reinvention Services
    Effective September 1, 2025, we brought all of our services, which are described below, together into a single, integrated business unit called Reinvention Services. With this change, our client-focused growth model is bringing together all our capabilities across strategy, consulting, technology, operations, Song and Industry X, including deep industry and functional expertise across these capabilities, plus our technology ecosystem partnerships, to create more leading solutions faster and embed AI and data more easily into creating and delivering our solutions and services. As the reinvention partner of choice for our clients, we are building the digital core and helping reinvent nearly every part of the enterprise, everything from functions that are common across industries like HR and Finance, to industry-specific functions like manufacturing and capital projects. With the majority of our large deals today already involving capabilities across multiple areas, the full rollout of our model is designed to make it faster and simpler to sell and deliver everything Accenture offers across our client base, while embedding more AI and data and equipping our people.
    Strategy and Consulting
    We work with C-suite executives, leaders and boards of the world’s leading organizations, helping them reinvent nearly every part of their enterprise to set their strategic priorities, build their digital core, reinvent processes and reimagine their workforce to drive greater growth, enhance competitiveness, and deliver sustainable 360° stakeholder value. Our deep industry and functional expertise is supported by proprietary assets and platforms that help organizations transform faster and become more resilient. Underpinned by technology, data, analytics, AI, change management, talent, learning and sustainability, these capabilities help architect and accelerate all aspects of an organization’s reinvention. Our strategists and deep industry, functional, customer and technology consultants work hand-in-hand with our clients and across our capabilities to shape and deliver these reinventions.
    Technology
    We help our clients build their digital core including AI, data, cloud, systems integration and application management, security, intelligent platform services, infrastructure services, software engineering services, automation and global delivery centers, utilizing our deep industry and functional knowledge to create solutions that will drive value at speed. We continuously innovate our solutions and services and develop new capabilities, assets and platforms through early adoption of new technologies such as advanced AI, which includes generative, agentic and physical AI, robotics, 5G, edge computing and quantum computing, as well as invest in R&D for both new and existing forms of technology. We also invest in emerging technologies through Accenture Ventures.

    ACCENTURE 2025 FORM 10-K
    		Item 1. Business
    4
    Operations
    We operate business processes on behalf of clients for specific enterprise functions, including finance and accounting, sourcing and procurement, supply chain, marketing and sales, and human resources, as well as industry-specific services, such as platform trust and safety, banking, insurance, network and health services. We help organizations with reinvented operations, enabled by SynOps, our proprietary AI-powered, cloud-enabled platform that empowers people with data, processes, automation and a broad ecosystem of technology partners to transform enterprise operations at speed and scale. Our experience from operations also informs our strategy and consulting capabilities to better serve our clients.
    Song
    We help our clients create new, hyper-personalized experiences and services that are intelligently designed to foster loyalty and drive growth by making customer interactions more compelling, useful, and simple from initial interaction through ongoing customer service. We also build the strong digital core that supports the customer agenda. Our suite of solutions and services spans design, digital products, marketing, sales, commerce, and customer service. We help brands amplify their value, by making their products, services and experiences clear and inspiring to stand out in a crowded marketplace. Our commerce strategies are designed to enhance sales effectiveness and create seamless buying experiences. Our customer service innovations powered with AI help make support more responsive and accessible. We leverage the power of a connected customer strategy, AI and data, ecosystem partnerships, and our ability to scale and manage programs on behalf of our clients to solve client challenges more effectively, and provide solutions that are designed to be advanced, ethically sound and sustainable to help our clients reinvent how they engage their customers and grow.
    Industry X
    We combine our digital capabilities with deep engineering and manufacturing expertise. By using the combined power of digital and data we help our clients to reinvent and reimagine the products they make and how they make them. We have expanded our capabilities over the last few years to include helping our clients to digitally transform how their capital projects are planned, managed and executed, from plant and asset construction to public infrastructure, power grids and data centers. We collaborate closely with our technology ecosystem partners to help our clients achieve compressed transformations by redefining how their products are designed and engineered, tested, sourced and supplied, manufactured, and serviced, returned and renewed. Our solutions and services include the use of data and transformative technologies such as advanced AI, artificial reality/virtual reality, advanced robotics and digital twins.
    Ecosystem Partner Relationships
    Our successful strategy for more than a decade has been to be the number-one partner for the technology ecosystem. As technology is front and center for every client, we are the number-one partner for all of our top 10 ecosystem partners. These partners are among the world’s largest technology companies by revenue, and they are seeking deeper partnerships with us as they look for help to turn their technology into business outcomes and scale the adoption of AI. In fiscal 2025, we expanded our partnerships beyond the top 10 in AI and data and created new ones with companies that are becoming critical to many of our clients, which also want us to help them scale their client and customer relationships.
    Clients

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    Financial statements

    data from SEC XBRL filings. Values are as-reported; restatements supersede originals. Values reported in .

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    From 10-Q filed 2026-06-18 (period ending 2026-05-31).

    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
    24
    Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
    The following discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related Notes included elsewhere in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended August 31, 2025, and with the information under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended August 31, 2025.
    We use the terms “Accenture,” “we,” “our” and “us” in this report to refer to Accenture plc and its subsidiaries. All references to years, unless otherwise noted, refer to our fiscal year, which ends on August 31. For example, a reference to “fiscal 2026” means the 12-month period that will end on August 31, 2026. All references to quarters, unless otherwise noted, refer to the quarters of our fiscal year.
    We use the term “in local currency” so that certain financial results may be viewed without the impact of foreign currency exchange rate fluctuations, thereby facilitating period-to-period comparisons of business performance. Financial results “in local currency” are calculated by restating current period activity into U.S. dollars using the comparable prior year period’s foreign currency exchange rates. This approach is used for all results where the functional currency is not the U.S. dollar.
    Disclosure Regarding Forward-Looking Statements
    This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target,” “strategy,” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to those identified below. Many of the following risks, uncertainties and other factors identified below may be amplified by conflict in the Middle East, as well as any escalation or expansion of economic disruption or the conflict’s current scope.
    Business Risks
    •Our results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and geopolitical conditions and the effects of these conditions on our clients’ businesses and levels of business activity.
    •Our business depends on generating and maintaining client demand for our solutions and services, including through the adaptation and expansion of our solutions and services in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect our results of operations.
    •Risks and uncertainties related to the development and use of AI, including advanced AI, could harm our business, damage our reputation or give rise to legal or regulatory action.
    •If we are unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, our business, the utilization rate of our professionals and our results of operations may be materially adversely affected.
    •We face legal, reputational and financial risks from any failure to protect client and/or Accenture data from security incidents or cyberattacks.
    •The markets in which we operate are highly competitive, and we might not be able to compete effectively.
    •If we do not successfully manage and develop our relationships with our ecosystem partners or if we fail to anticipate and establish new alliances in new technologies, our results of operations could be adversely affected.
    •Our ability to attract and retain business and employees may depend on our reputation in the marketplace.


    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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    Financial Risks
    •Our profitability could materially suffer due to pricing pressure, if we are unable to remain competitive, if our cost-management strategies are unsuccessful or if we experience delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels.
    •Changes in our level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on our effective tax rate, results of operations, cash flows and financial condition.
    •Our results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates.
    •Our debt obligations could adversely affect our business and financial condition.
    Operational Risks
    •As a result of our geographically diverse operations and our strategy to continue to grow in our key markets around the world, we are more susceptible to certain risks.
    •If we are unable to manage the organizational challenges associated with our size, we might be unable to achieve our business objectives.
    •We might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses.
    Legal and Regulatory Risks
    •Our business could be materially adversely affected if we incur legal liability.
    •Our work with government clients exposes us to additional risks inherent in the government contracting environment.
    •Our global operations expose us to numerous and sometimes conflicting legal and regulatory requirements, and violation of these regulations could harm our business.
    •If we are unable to protect or enforce our intellectual property rights, or if our solutions or services infringe upon the intellectual property rights of others or we lose our ability to utilize the intellectual property of others, our business could be adversely affected.
    •We are incorporated in Ireland and Irish law differs from the laws in effect in the United States and might afford less protection to our shareholders. We may also be subject to criticism and negative publicity related to our incorporation in Ireland.
    For a more detailed discussion of these factors, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2025. Our forward-looking statements speak only as of the date of this report or as of the date they are made, and we undertake no obligation to update any forward-looking statements.


    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
    26
    Overview
    Accenture helps enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed for organizations across industries. We bring together the talent of our people, with proprietary assets and platforms, deep process and industry expertise, and ecosystem relationships to deliver end-to-end solutions and measurable outcomes at scale. Through our Reinvention Services, we offer broad expertise across Cybersecurity, Digital Core, Finance, Industry and Enterprise, Song, Supply Chain and Engineering and Talent, with advanced capabilities in AI and Data, Industry and Process, and Technology. We serve clients in three geographic markets: the Americas, EMEA (Europe, Middle East and Africa) and Asia Pacific.
    Our results of operations are affected by economic conditions, including macroeconomic conditions, the overall inflationary environment, new and rapidly changing technologies, and levels of business confidence. We continue to see significant economic and geopolitical uncertainty in many markets around the world, including as a result of conflict in the Middle East, which has impacted and may continue to impact our business. While the discretionary environment is unchanged, clients continue to prioritize large-scale transformations, which include becoming AI-ready.
    Key Metrics
    Key metrics for the third quarter of fiscal 2026 compared to the third quarter of fiscal 2025 are included below.
    •Revenues of $18.7 billion, an increase of 6% in U.S. dollars and 3% in local currency;
    •New bookings of $19.3 billion, a decrease of 2% in U.S. dollars and 3% in local currency;
    •Operating margin of 17.0%, compared to operating margin of 16.8% in the third quarter of fiscal 2025;
    •Diluted earnings per share of $3.80, compared to diluted earnings per share of $3.49, a 9% increase over the third quarter of fiscal 2025;
    •Cash returned to shareholders of $2.2 billion, including dividends of $1.0 billion and share purchases of $1.2 billion.
    Revenues
    Three Months EndedPercent
    Increase
    (Decrease)
    U.S.
    Dollars    		Percent
    Increase
    (Decrease)
    Local
    Currency    		Percent of Revenues
    for the Three Months Ended
    (in billions of U.S. dollars)May 31, 2026May 31, 2025May 31, 2026May 31, 2025
    Geographic MarketsAmericas$9.1 $9.0 2 %1 %49 %51 %
    EMEA6.9 6.2 10 4 37 35 
    Asia Pacific2.7 2.5 7 8 14 14 
    Total Revenues$18.7 $17.7 6 %3 %100 %100 %
    Industry GroupsCommunications, Media & Technology $3.2 $2.9 10 %9 %17 %16 %
    Financial Services3.5 3.3 6 3 19 18 
    Health & Public Service3.8 3.8 2 — 21 21 
    Products5.7 5.3 6 3 30 30 
    Resources 2.5 2.4 3 1 13 14 
    Total Revenues$18.7 $17.7 6 %3 %100 %100 %
    Type of WorkConsulting$9.3 $9.0 4 %1 %50 %51 %
    Managed Services9.4 8.7 8 5 50 49 
    Total Revenues$18.7 $17.7 6 %3 %100 %100 %
    Amounts in table may not total due to rounding.
    Revenues for the third quarter of fiscal 2026 increased 6% in U.S. dollars and 3% in local currency compared to the third quarter of fiscal 2025. During the third quarter of fiscal 2026, revenue growth in local currency was very strong in Asia Pacific, solid in EMEA and slight in the Americas. We experienced local currency revenue growth that was very strong in Communications, Media & Technology, modest in Financial Services and Products, slight in Resources and flat in Health & Public Service. Revenue growth in local currency was solid in managed services and slight in consulting. While the business environment remained competitive, pricing was relatively stable. We define pricing as the contract profitability or margin on the work that we sell.
    In our consulting business, revenues for the third quarter of fiscal 2026 increased 4% in U.S. dollars and 1% in local currency compared to the third quarter of fiscal 2025. Consulting revenue growth in local currency for the third quarter of fiscal 2026 was driven by very strong growth in Asia Pacific, while the Americas and EMEA were flat. Our consulting revenue continues to be


    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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    driven by helping our clients accelerate their reinvention, leveraging cloud, enterprise platforms, security, AI and data, including advanced AI, as well as our change capabilities to help clients build new skills and drive the successful adoption of new processes and technologies. In addition, clients continue to be focused on initiatives designed to deliver cost savings, supply chain and operational resilience, as well as to accelerate growth and improve customer experiences. While we continue to experience demand for these services, we also continue to see a slower pace and level of client spending, particularly for smaller contracts with a shorter duration.
    In our managed services business, revenues for the third quarter of fiscal 2026 increased 8% in U.S. dollars and 5% in local currency compared to the third quarter of fiscal 2025. Managed services revenue growth in local currency for the third quarter of fiscal 2026 was driven by very strong growth in EMEA, strong growth in Asia Pacific and modest growth in the Americas. We continue to assist clients with reinvented operations, application development and maintenance, and infrastructure management including cloud and security. Clients continue to be focused on transforming their operations through technology, AI and data, and leveraging our proprietary assets and platforms and talent to drive productivity and cost savings.
    As we are a global company, our revenues are denominated in multiple currencies and may be significantly affected by currency exchange rate fluctuations. While a significant portion of our revenues are in U.S. dollars, the majority of our revenues are denominated in other currencies, including the Euro, U.K. pound and Japanese yen. There continues to be volatility in foreign currency exchange rates. Unfavorable fluctuations in foreign currency exchange rates have had and could in the future have a material effect on our financial results. If the U.S. dollar weakens against other currencies, resulting in favorable currency translation, our revenues, revenue growth and results of operations in U.S. dollars may be higher. If the U.S. dollar strengthens against other currencies, resulting in unfavorable currency translation, our revenues, revenue growth and results of operations in U.S. dollars may be lower. The U.S. dollar weakened against various currencies during the three and nine months ended May 31, 2026 compared to the three and nine months ended May 31, 2025, resulting in favorable currency translation and U.S. dollar revenue growth that was approximately 2.5% and 2.7% higher, respectively, than our revenue growth in local currency. Assuming that exchange rates stay within recent ranges for the remainder of fiscal 2026, we estimate that our full fiscal 2026 revenue growth in U.S. dollars will be approximately 2% higher than our revenue growth in local currency.
    People Metrics
    Utilization
    Workforce
    Annualized Voluntary Attrition
    93%
    799,000
    14%
    compared to 92% in the third quarter of fiscal 2025
    compared to approximately 791,000 as of May 31, 2025
    compared to 16% in the third quarter of fiscal 2025
        
    Utilization for the third quarter of fiscal 2026 was 93%, compared to 92% in the third quarter of fiscal 2025. We hire to meet current and projected future demand. We proactively plan and manage the size and composition of our workforce and take actions as needed to address changes in the anticipated demand for our solutions and services, given that compensation costs are the most significant portion of our operating expenses. Our workforce, the majority of which serves our clients, was approximately 799,000 as of May 31, 2026, compared to approximately 779,000 as of August 31, 2025 and 791,000 as of May 31, 2025.
    For the third quarter of fiscal 2026, annualized attrition, excluding involuntary terminations, was 14%, down from 16% in the third quarter of fiscal 2025. We evaluate voluntary attrition, adjust levels of new hiring and use involuntary terminations as a means to keep our supply of skills and resources in balance with changes in client demand.
    In addition, we adjust compensation to provide market relevant pay based on the skills of our people and locations where we operate. We also consider a variety of factors, including the macroeconomic environment, in making our decisions around pay and benefits. We strive to adjust pricing as well as drive cost and delivery efficiencies, such as changing the mix of people and utilizing technology, to reduce the impact of compensation increases on our margin and contract profitability.
    Our ability to grow our revenues and maintain or increase our margin could be adversely affected if we are unable to: match people and skills with the types or amounts of solutions and services clients are demanding; recover or offset (increases) in compensation; deploy our employees globally on a timely basis; manage attrition; and/or effectively assimilate new employees.





    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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    New Bookings
    Three Months EndedPercent
    Increase
    (Decrease)
    U.S.
    Dollars    		Percent
     Increase
    (Decrease)
    Local
     Currency    		Nine Months EndedPercent
    Increase
    (Decrease)
    U.S.
    Dollars    		Percent
     Increase
    (Decrease)
    Local
     Currency
    (in billions of U.S. dollars)May 31, 2026May 31, 2025May 31, 2026May 31, 2025
    Consulting$10.3 $9.1 13 %11 %$31.5 $28.8 9 %6 %
    Managed Services9.1 10.6 (15)%(16)%30.9 30.5 1 %(1)%
    Total New Bookings$19.3 $19.7 (2)%(3)%$62.4 $59.3 5 %2 %
    Amounts in table may not total due to rounding.
    We provide information regarding our new bookings, which include new contracts, including those acquired through acquisitions, as well as renewals, extensions and changes to existing contracts, because we believe doing so provides useful trend information regarding changes in the volume of our new business over time. New bookings can vary significantly quarter to quarter depending in part on the timing of the signing of a small number of large managed services contracts. The types of solutions and services clients are demanding and the pace and level of their spending may impact the conversion of new bookings to revenues. For example, managed services bookings, which are typically for multi-year contracts, generally convert to revenue over a longer period of time compared to consulting bookings.
    Information regarding our new bookings is not comparable to, nor should it be substituted for, an analysis of our revenues over time. New bookings involve estimates and judgments. There are no third-party standards or requirements governing the calculation of bookings. We do not update our new bookings for material subsequent terminations or reductions related to bookings originally recorded in prior fiscal years. New bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations.
    The majority of our contracts are terminable by the client on short notice with little or no termination penalties, and some without notice. Only the non-cancelable portion of these contracts is included in our remaining performance obligations disclosed in Note 2 (Revenues) to our Consolidated Financial Statements under Item 1, “Financial Statements.” Accordingly, a significant portion of what we consider contract bookings is not included in our remaining performance obligations.


    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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    Results of Operations for the Three and Nine Months Ended May 31, 2026 Compared to the Three and Nine Months Ended May 31, 2025
    Revenues
    Revenues by geographic market, industry group and type of work are as follows:
      Three Months EndedPercent
    Increase
    (Decrease)
    U.S.
    Dollars    		Percent
    Increase
    (Decrease)
    Local
    Currency    		Nine Months EndedPercent
    Increase
    (Decrease)
    U.S.
    Dollars    		Percent
    Increase
    (Decrease)
    Local
    Currency
    (in millions of U.S. dollars)May 31, 2026May 31, 2025May 31, 2026May 31, 2025
    Geographic Markets
    Americas$9,138 $8,966 2 %1 %$27,114 $26,252 3 %3 %
    EMEA6,873 6,232 10 4 20,378 18,448 10 3 
    Asia Pacific2,707 2,530 7 8 8,012 7,377 9 9 
    Total$18,718 $17,728 6 %3 %$55,504 $52,077 7 %4 %
    Industry Groups
    Communications, Media & Technology $3,218 $2,912 10 %9 %$9,411 $8,500 11 %9 %
    Financial Services3,489 3,279 6 3 10,486 9,458 11 7 
    Health & Public Service3,845 3,778 2 — 11,312 11,199 1 (1)
    Products5,669 5,344 6 3 16,887 15,821 7 3 
    Resources2,498 2,415 3 1 7,408 7,098 4 2 
    Total$18,718 $17,728 6 %3 %$55,504 $52,077 7 %4 %
    Type of Work
    Consulting$9,328 $9,007 4 %1 %$27,603 $26,335 5 %2 %
    Managed Services9,390 8,721 8 5 27,902 25,742 8 6 
    Total$18,718 $17,728 6 %3 %$55,504 $52,077 7 %4 %
    Amounts in table may not total due to rounding.
    Geographic Markets
    The following revenues commentary discusses the primary drivers of local currency revenue changes by geographic market for the three and nine months ended May 31, 2026 compared to the three and nine months ended May 31, 2025:
    Americas
    •Three Months. Revenues increased 1% in local currency, led by growth in Software & Platforms, High Tech and Industrials, partially offset by a decline in Public Service. Revenue growth was driven by the United States.
    •Nine Months. Revenues increased 3% in local currency, led by growth in Banking & Capital Markets, Industrials and     Software & Platforms, partially offset by a decline in Public Service, driven by our U.S. federal business. Revenue growth was driven by the United States.
    EMEA
    •Three Months. Revenues increased 4% in local currency, led by growth in Public Service and Software & Platforms. Revenue growth was driven by the United Kingdom and Italy, partially offset by a decline in Germany.
    •Nine Months. Revenues increased 3% in local currency, led by growth in Public Service, Insurance and Banking & Capital Markets. Revenue growth was driven by the United Kingdom and Italy.
    Asia Pacific
    •Three Months. Revenues increased 8% in local currency, led by growth in Public Service, Banking & Capital Markets and Insurance. Revenue growth was driven by Japan, Australia and Singapore.
    •Nine Months. Revenues increased 9% in local currency, led by growth in Banking & Capital Markets, Public Service and Communications & Media. Revenue growth was driven by Japan, Australia and Singapore.



    ACCENTURE FORM 10-Q
    		Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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    Operating Expenses
    Operating expenses for the third quarter of fiscal 2026 increased $798 million, or 5%, compared to the third quarter of fiscal 2025, and decreased as a percentage of revenues to 83.0% from 83.2% during this period. Operating expenses for the nine months ended May 31, 2026 increased $3,061 million, or 7%, compared to the nine months ended May 31, 2025, and increased as a percentage of revenues to 84.6% over 84.3% during this period.
    The primary categories of operating expenses include Cost of services, Sales and marketing and General and administrative costs. Cost of services is primarily driven by the cost of people serving our clients, which consists mainly of compensation and other payroll costs, as well as non-payroll costs such as subcontractors, facilities, technology and travel. Cost of services and the related gross margin may be impacted by several factors, including contract profitability, which includes the pricing on the work that we sell, as well as by the investments we make in our business, such as research and development to build assets, platforms and industry and functional solutions and strategic acquisitions, as well as in our people, such as total rewards and learning and professional development. Sales and marketing costs are driven primarily by compensation costs for business development activities; marketing- and advertising-related activities; and certain acquisition-related costs. General and administrative costs primarily include costs for people that are non-client-facing, information systems, office space and certain acquisition-related costs.
    Operating expenses by category are as follows:
    Three Months EndedNine Months Ended
    (in millions of U.S. dollars)May 31, 2026May 31, 2025Increase
    (Decrease)    		May 31, 2026May 31, 2025Increase
    (Decrease)
    Operating Expenses$15,543 83.0 %$14,745 83.2 %$798

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    holders ( registered funds via N-PORT, institutional investors via 13F). Showing top by dollar value.

    Holder Type ETF MF Position ($) % of holder Δ % of holder Holder AUM

    Recent insider activity

    Last 90 days. Open-market trades (purchases & sales) by directors, officers, and 10%+ owners. 2 transactions across 2 insiders. Net: -10,566 shares, -$1,722,885.

    Date Insider Role Action Shares Price Value
    2026-08-14 Clifford Katherine Lee indirect Chief Leadership & HR Officer Sell -68 $175.97 -$11,966
    2026-07-30 Unruch Joel General Counsel/Corp Secretary Sell -10,498 ×5 $162.98 -$1,710,919

    Source: SEC Form 4 filings.

    Next expected filings

    • ~2026-10-09 10-K expected by 2026-05-15 (in 2 days)
    • ~2026-12-17 10-Q expected by 2027-01-06 (in 71 days)
    • ~2027-03-18 10-Q expected by 2027-04-07 (in 162 days)
    • ~2027-06-17 10-Q expected by 2027-07-07 (in 253 days)

    Predicted from historical filing cadence; not an SEC commitment.

    Recent SEC filings

    • 2026-10-01 8-K Earnings Release; Financial Statements and Exhibits
    • 2026-07-10 8-K Other Events; Financial Statements and Exhibits
    • 2026-06-18 10-Q Quarterly Report
    • 2026-06-18 8-K Earnings Release; Financial Statements and Exhibits
    • 2026-04-24 8-K Material Agreement Entered; Material Agreement Terminated; Material Financial Obligation; Financial Statements and Exhibits
    • 2026-03-19 10-Q Quarterly Report
    • 2026-03-19 8-K Earnings Release; Financial Statements and Exhibits
    • 2026-01-28 8-K Officer/Director Change; Shareholder Vote Results; Financial Statements and Exhibits
    • 2025-12-18 10-Q Quarterly Report
    • 2025-12-18 8-K Earnings Release; Financial Statements and Exhibits
    • 2025-10-10 10-K Annual Report
    • 2025-09-25 8-K Earnings Release; Financial Statements and Exhibits
    • 2025-07-17 8-K/A Officer/Director Change
    • 2025-06-20 10-Q Quarterly Report
    • 2025-06-20 8-K Officer/Director Change; Other Events; Financial Statements and Exhibits