Accenture drops after lowering FY revenue forecast By Investing.com

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<span>© Reuters Accenture (ACN) drops after lowering FY revenue forecast</span><br />
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<p>Accenture (NYSE:) shares fell almost 5% in early Thursday trading after the company lowered the high-end of its full-year revenue forecast range.</p>
<p>Accenture posted of $3.19 on revenue of $16.6 billion, above the expected $3.01 profit per share on revenue of $16.49B. Sales increased 2.5% year-over-year as revenue from the Communications, Media, and Technology segment fell 16% YoY.</p>
<p>“Our third-quarter results reflect solid bookings and revenue, and very strong adjusted operating margin, earnings per share and free cash flow, which demonstrates the rigor and discipline with which we run our business,” said Julie Sweet, chair and CEO, Accenture.</p>
<p>Similarly, consulting new bookings fell as much as 8.9% YoY to $8.9B.</p>
<p>For this quarter, Accenture sees revenue at $16.05B, missing the consensus of $16.35B. The company also called for a full-year profit of $11.52-11.63, up from the prior forecast of $11.41-11.63 and compared to the consensus of $11.60.</p>
<p>Revenue is now seen rising 8-9%, down from the prior forecast range of 8-10%.</p>
<p>TD Cowen analysts expect “an adverse reaction to results following recent strength in shares.”</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/accenture-drops-after-lowering-fy-revenue-forecast-432SI-3111120">Source link </a></p><p>The post <a href="https://forextraderhub.com/accenture-drops-after-lowering-fy-revenue-forecast-by-investing-com.html">Accenture drops after lowering FY revenue forecast By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>