Accenture stock was heading for its best day on record after the consulting company reported better-than-expected fiscal fourth-quarter earnings, brushing off mounting concerns that artificial intelligence could disrupt the consulting world.

Revenue for the quarter totaled $18.7 billion, beating analysts' estimates of $18.03 billion. Adjusted earnings of $3.29 a share also topped Wall Street's calls for $3.18.

Net bookings rose to $22.2 billion in the fiscal fourth quarter, up 5% in local currency. CEO Julie Sweet said Accenture had reached a new high of 141 quarterly client bookings of $100 million or more.

Accenture stock jumped 23% to $224.34 Thursday, with shares on pace to log their best day on record, according to Dow Jones Market Data. Shares had rallied ahead of earnings, closing up 3.5% at $183.37 Wednesday.

Accenture outlined its guidance for fiscal 2027, expecting revenue growth range of 3% to 6% in local currency. The company also expects adjusted earnings to increase between 3% and 6% during that same period.

Adjusted earnings of $13.97 a share for the fiscal year ended Aug. 31, beat Wall Street's consensus projections for $13.86. Revenue in the period totaled $74.2 billion, above consensus estimates of $73.56 billion.

Both revenue and adjusted earnings topped Accenture's previous guidance. In the fiscal third quarter, management had tweaked its fiscal 2026 outlook, expecting revenue to grow in a range of 3% to 4% in local currency, down from a prior range of 3% to 5%. Accenture had projected fiscal 2026 adjusted earnings to range from $13.78 to $13.90 a share.

Analysts at Baird wrote Thursday that Accenture's earnings were "strong" thanks to solid revenue and bookings growth. The firm added that Accenture's fiscal 2027 and earnings guidance were both in line with consensus estimates, which they think should help ease investor fears on AI. The firm has an Outperform rating on the stock.

Accenture returned a record $11.5 billion to shareholders during the year, up 38% from fiscal 2025.

Consulting revenue totaled $9.28 billion in the fiscal fourth quarter, up 7% in local currency from a year before. The figure topped analysts' calls for $8.86 billion.

Accenture's earnings offered an encouraging sign for an industry weighed down by AI fears. helping boost shares of rival IBM up 4.8% Thursday.

The strong performance follows Accenture and Anthropic's joint AI safety partnership announced almost two weeks ago. Through Accenture's specialist AI unit, Faculty, the companies will embed independent safety evaluators within Anthropic. The pair anticipate investing at least $1 billion in AI safety evaluation over the next five years.

The partnership builds on Accenture's existing AI collaborations with major technology companies, including Alphabet-owned Google. The alliance pairs Google Cloud's tech stack, including Gemini AI, with Accenture's industry teams to help enterprises automate workflow, analyze trends, and strengthen cybersecurity.

Accenture shares may be down nearly 17% this year on fears that AI could disrupt its core operations, but the numbers may suggest otherwise. AI is looking less like a threat and more like a catalyst, with Accenture's expansion into AI safety positioned to propel the stock.