Japan IT Services: Accenture FY8/26 Q3 results read-across. Sizable Middle East hit, stock price corrects

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Japan IT Services: Accenture FY8/26 Q3 results read-across. Sizable Middle East hit, stock price corrects

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18 Jun 2026 12:22:35 ET │ 11 pages

Japan IT Services

Accenture FY8/26 Q3 results read-across. Sizable Middle East hit,

stock price corrects

Moriya Koketsu AC

CITI'S TAKE +81-3-6776-8304

Accenture held its Q3 earnings call on June 18 at 21:00 JST. Accenture’s moriya.koketsu@citi.com

share price declined (-15%) after results were released, primarily due to

disappointing Q4 revenue guidance and below-consensus bookings. The

Middle East impact was a major factor behind the consensus miss. We think

investors reacted negatively because that impact had not been fully priced

in. Meanwhile, Accenture maintains AI demand remains robust, citing AI

security as a growth pillar. However, AI demand has not yet begun to lift

earnings. While Japanese companies appear to have minimal Middle East

exposure, the materialization of AI demand also seems a way off.

Results — FY8/26 Q3 revenue/OP came in at $18.7bn (YoY +6%)/$3.2bn (YoY +7%),

with revenue slightly below consensus ($18.8bn/$3.2bn). New bookings totaled

$19.3bn (YoY -2%), missing consensus ($21bn). Within new bookings, consulting

reached $10.3bn (+13%) showing accelerating growth, while managed services fell

significantly to $9.1bn (YoY -15%). The decline in managed bookings resulted from

several large deals shifting into next year. Asia Pacific revenue growth remained

strong (YoY +7%, LC YoY +8%), while revenue growth in the Americas and EMEA

remained lackluster. Within Asia Pacific, Japan, Australia, and Singapore showed

strength, with the Japan market remaining strong. In EMEA, UK and Italy performed

well, but Germany and Middle East weakened. The Middle East geopolitical situation