Accenture, in its latest earnings, has reported a 4% year-on-year revenue growth at $18 billion and clocked $22.1 billion in bookings in Q2FY26. Large deals (more than $100 million) saw a record 41 deals, taking the first six months of deal bookings to $43 billion, with the top 10 clients growing the fastest. The operating margin was 13.8%, an improvement of 30 basis points compared to Q2FY25.

On the demand environment, at the company’s earnings call, Julie Sweet, Chair and Chief Executive Officer, said, “We saw again this quarter clients continuing to prioritize their most strategic and large-scale transformational programs, which position us at the centre of their reinvention agendas. As clients finalized their budgets going into calendar year 2026, we are seeing spending similar to 2025.”

Barring healthcare and public services, the rest of the revenue segments registered growth, with Communications, Media & Technology and financial services recording 10% and 7% year-on-year growth, respectively. For the third quarter of fiscal 26, Accenture expects revenues to be in the range of $18.35 to $19.0 billion, including a positive forex impact of 2.5%.

For the full year, the company has raised the lower end of its earlier guidance band from 2% to 3%. “For the full fiscal 26, we now expect revenue to be in the range of 3% to 5% growth in local currency over fiscal 25, including an estimated 1% impact from our federal business. Excluding the impact of federal, our revenue is expected to be 4% to 6%. This year, we continue to expect an inorganic contribution of about 1.5%,” said Angie Park, Chief Financial Officer, during the earnings call.

While Accenture plans to invest about $5 billion or more in acquisitions this fiscal year, the headcount is also expected to increase in the second half of the fiscal year. The management said that, based on a strong demand outlook, it expects headcount to increase in H2.

Providing an update on the ongoing war in the Middle East and its impact, Accenture said that it had roughly 3,000 employees in the region, representing about 1% or $1 billion of the company’s revenue in FY25. However, it does not see any significant financial impact.

Even as the company has raised its full-year guidance based on current visibility, Park caveated the optimism: “Our range for Q3 and the full year reflects our best view today of the potential impact of the conflict in H2. It does not take into account a significant escalation or the occurrence of major economic disruption.”