Accenture stock falls after profit and revenue beat expectations but outlook was downbeat

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Shares of Accenture PLC

dropped 0.9% towards an 18-month low in premarket buying and selling Thursday, after the consulting corporate reported fiscal fourth-quarter profit and revenue that crowned expectations but supplied a downbeat outlook. Net source of revenue for the quarter to Aug. 31 rose to $1.67 billion, or $2.60 a percentage, from $1.42 billion, or $2.20 a percentage, within the year-ago length. The FactSet consensus for profits consistent with percentage was $2.57. Revenue grew 14.9% to $15.42 billion, above the FactSet consensus of $15.39 billion, with revenue expansion in U.S. bucks of 18% in North America, 12% in Europe and 13% in expansion markets. The affect on revenue of foreign currencies translation was adverse 7.5%. New bookings greater 22% to $18.4 billion. Looking forward, the corporate expects first-quarter revenue of $15.20 billion to $15.75 billion, underneath the FactSet consensus of $16.17 billion, and fiscal 2023 EPS of #11.09 to $11.41, underneath expectations of $11.93. The stock has slumped 36.0% yr so far thru Wednesday, whilst the S&P 500

has shed 20.5%.

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