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Accenture, the world’s largest IT services provider, achieved better-than-expected revenue growth during its fiscal first quarter.

The New York-headquartered firm closed the three months ended Nov. 30 with sales of $17.7 billion. That’s up 9% from the year-ago period, a sharper increase than what the market had expected. In local currency terms, which is a more accurate way to measure the top line performance of multinational companies, revenue climbed 8%.

Accenture’s growth was driven mainly by its managed services business, which helps enterprises manage their IT infrastructure. The unit boosted its revenue by 11% to $8.6 billion. Accenture’s consulting business grew at a slower 7%, but remained the company’s biggest revenue driver with quarterly sales of $9.05 billion.

The professional services giant breaks down its sales by vertical to give investors a better idea of where client demand is coming from. In the first quarter, Accenture’s fastest market was the health and public sector, where the firm grew its sales by 13% year-over-year. The segment was followed by the manufacturing and technology verticals. 

“First quarter new bookings were $18.7 billion, including 30 quarterly client bookings of more than $100 million, and we continued to lead in helping our clients realize value with generative AI, with new bookings of $1.2 billion,” commented Accenture CEO Julie Sweet.

Accenture expects this momentum to carry over into the rest of fiscal 2025. The company has raised its growth guidance for the year to between 4% and 7% in local currency. It expects earnings per share guidance to range from $12.43 to $12.79, which also represents an increase over Accenture’s previous forecast.

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