Accenture cuts its annual revenue forecast
IT services and products provider Accenture nick relieve its fiscal-year 2024 earnings forecast on Thursday (Mar 21), as an unsure economy prompts purchasers to nick relieve spending on its consulting services and products.
Shares of the corporate fell round 5 per cent in premarket shopping and selling.
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Accenture now expects beefy-year earnings development in the variety of 1 per cent to three per cent, from its prior forecast of 2 per cent to 5 per cent.
The firm has been grappling with slack ask for its IT and consulting services and products as high interest charges and an unsure economic outlook urged purchasers to relieve expenditure.
After elevated client spending all the intention by the pandemic, analysts pronounce development in the industry has been decelerating over the last six quarters.
Accenture also forecast third-quarter earnings in the variety of US$16.25 billion to US$16.85 billion, when in contrast with an estimate of US$17.01 billion, per LSEG knowledge.
Source: Reuters
