Investing.com -- Accenture (NYSE: ACN) reported second-quarter results that exceeded analyst expectations, but shares fell 3.5% as the company's full-year earnings outlook disappointed investors.

The professional services firm posted adjusted earnings per share of $2.93 for the quarter ended February 28, beating the analyst consensus of $2.85 by $0.08. Revenue reached $18 billion, surpassing the $17.83 billion estimate and representing an 8% increase in U.S. dollars and 4% growth in local currency compared to the same quarter last year. The company also reported record new bookings of $22.1 billion, up 6% in U.S. dollars.

However, Accenture's full-year fiscal 2026 adjusted EPS guidance of $13.65 to $13.90 fell short of expectations. The midpoint of $13.78 trails the analyst consensus of $13.86. The company's revenue growth outlook is 3% to 5% in local currency, or 4% to 6% excluding an estimated 1% impact from its U.S. federal business.

"We delivered record second quarter bookings of $22.1 billion, including a record 41 clients with quarterly bookings greater than $100 million, with revenues at the top of our guided range, while continuing to take significant share in a competitive market," said Chair and CEO Julie Sweet.

Operating margin expanded 30 basis points to 13.8% in the quarter. The company generated free cash flow of $3.7 billion and returned $2.7 billion to shareholders through $1.7 billion in share repurchases and $1 billion in dividends.

Accenture raised its full-year free cash flow expectation to a range of $10.8 billion to $11.5 billion. The company emphasized its positioning to help clients scale advanced AI across their enterprises and pursue AI-based transformation opportunities.