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Accenture Lowers Guidance Citing an 'Uncertain Macro Environment' and Its Stock Tumbles

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Key Takeaways

  • Accenture shares slumped Thursday as the tech and consulting services provider reported a slowdown in sales and new bookings.
  • The company predicted current-quarter revenue below estimates, and lowered its full-year outlook.
  • CEO Julie Sweet said the company had to deal with an "uncertain macro environment."

Accenture (ACN) shares tumbled over 8% in int༺raday trading Thursday after thဣe provider of tech and consulting services for businesses lowered its guidance as sales and new bookings slowed.

The company reported second-quarter fiscal 2024 revenue fell less than 1% from a year ago to $15.80 billion, missing estimates. Consulting revenue slid 3% to $8.02 billion. Managed services revenue was up 3% to $7.78 billion. New bookings declined 2% to $21.58 billion. Adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.77 came in 澳洲幸运5官方开奖结果体彩网:better than anticipated.

CEO Julie Swee🅘t said Accenture dealt with “an uncertain macro environment.”

Accenture s🌞aid it anticipates current-quarter revenue in a range of $16.25 billion to $16.85 billion, below analysts’ forecasts. It pr🔯ojects full-year sales growth of 1% to 3%, down from its previous projection of a rise of 2% to 5%. The company reduced the top end of its expected adjusted EPS range to $12.20 from $12.32, compared to the $12.24 analysts expected.

Accenture, which paid shareholders a higher quarterly dividend on Feb. 15 of $▨1.29 peꦗr share, up from the previous $1.12, announced another $1.29-per-share dividend payout will come on May 15 to shareholders of record on April 11.

Shares of Accenture were 8.2% lower at $350.35 as of about noon ET Thursday. They've gained 0.7% year to date and close to 36% over the past 12 months.

ACN

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