Accenture unveils $4 bln share buyback as AI powers strong quarterly revenue

IT services firm Accenture has unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter revenue thanks to demand from companies looking to adopt generative artificial intelligence technology.

Shares of the company were up nearly 7 per cent in premarket trading.

The Dublin-based company reported fourth-quarter revenue of $16.41 billion, compared with analysts expectations of $16.38 billion, according to LSEG data.

Its generative AI business...