Accenture forecasts quarterly revenue below estimates on cautious enterprise spending
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
March 19 : Accenture forecast quarterly revenue below estimates on Thursday, as clients remain cautious on spending on large IT transformation projects amid an uncertain economic environment.
Shares of the Dublin, Ireland-based company were down 3 per cent in premarket trading.
The company has been dealing with a challenging economic environment, with clients delaying large digital transformation projects and favoring cost control and short-term initiatives over broad overhauls.
The company expects fiscal third-quarter revenue between $18.35 billion and $19.00 billion, with the midpoint slightly below analysts' average estimate of $18.72 billion, according to data compiled by LSEG.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
The company's revenue rose 8 per cent to $18.04 billion for the second quarter, beating estimates of $17.84 billion.
Accenture reported a profit of $2.93 per share, compared with $2.82 per share in the same quarter last year.
New bookings, a metric that measures future revenue based on contracts, rose 6 per cent to $22.1 billion in the second quarter.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app