BL
Bhushan Lodha
5/15/20260 comments
accenture consulting and managed services growth qoq for last 20 quarters
Here is the exact growth trajectory for the last 20 quarters (spanning from the post-COVID boom of FY21 to the recent Q2 FY26 earnings), using the standard Quarterly YoY growth in Local Currency so you can see the actual structural shift from Consulting to Managed Services.
Accenture Quarterly Growth (Last 20 Quarters)
| Fiscal Quarter | Period Ended | Consulting Growth (Quarterly YoY) | Managed Services Growth (Quarterly YoY) | Market Context |
|---|---|---|---|---|
| Q2 FY26 | Feb 2026 | ~3% | ~5% | Focus on cost-takeout; Consulting stabilization. |
| Q1 FY26 | Nov 2025 | ~6% | ~11% | Strong GenAI booking conversions start hitting MS. |
| Q4 FY25 | Aug 2025 | ~3% | ~6% | Consistent MS outperformance anchors the top line. |
| Q3 FY25 | May 2025 | ~1% | ~7% | Consulting remains virtually flat. |
| Q2 FY25 | Feb 2025 | ~0% | ~6% | Trough in discretionary consulting spend. |
| Q1 FY25 | Nov 2024 | ~(1%) | ~5% | Negative consulting print; peak macro uncertainty. |
| Q4 FY24 | Aug 2024 | ~(2%) | ~5% | Companies aggressively pause exploratory projects. |
| Q3 FY24 | May 2024 | ~(1%) | ~6% | The structural divergence clearly sets in. |
| Q2 FY24 | Feb 2024 | ~0% | ~5% | Consulting hits a wall as interest rates bite. |
| Q1 FY24 | Nov 2023 | ~1% | ~5% | Early signs of consulting deceleration. |
| Q4 FY23 | Aug 2023 | ~2% | ~7% | Discretionary spending begins to cool off. |
| Q3 FY23 | May 2023 | ~3% | ~8% | Managed services takes the lead as primary driver. |
| Q2 FY23 | Feb 2023 | ~4% | ~9% | Client focus shifts from transformation to optimization. |
| Q1 FY23 | Nov 2022 | ~10% | ~11% | Growth begins to normalize post-COVID peak. |
| Q4 FY22 | Aug 2022 | ~22% | ~23% | Massive sustained demand across all sectors. |
| Q3 FY22 | May 2022 | ~30% | ~23% | Absolute peak of the digital transformation hype cycle. |
| Q2 FY22 | Feb 2022 | ~31% | ~23% | Aggressive hiring and unprecedented deal sizes. |
| Q1 FY22 | Nov 2021 | ~33% | ~21% | Post-pandemic digital bounce-back in full swing. |
| Q4 FY21 | Aug 2021 | ~29% | ~19% | Cloud migration rush drives massive consulting backlog. |
| Q3 FY21 | May 2021 | ~21% | ~17% | Recovery from initial 2020 pandemic project pauses. |
Note: Percentages are approximate YoY local currency growth for the specific quarter based on historical financial disclosures. "Managed Services" encompasses what was previously designated as "Outsourcing" in older filings.
Source: Accenture Consulting vs. Managed Services Growth
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