:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1326152662-2bcd14a77d05410a9009237c36a217ec.jpg "Accenture logo")
Joan Cros / Corbis / Getty Ikons
Key Takeaways
- Accenture shares slumped Thursday as the tech and consulting services provider reported a slowdown in sales and new bookings.
- The enterprise predicted current-quarter revenue below estimates, and lowered its full-year outlook.
- CEO Julie Sweet said the company had to practise with an “uncertain macro environment.”
Accenture (ACN) shares tumbled over 8% in intraday trading Thursday after the provider of tech and consulting overhauls for businesses lowered its guidance as sales and new bookings slowed.
The company reported second-quarter fiscal 2024 revenue demolish less than 1% from a year ago to $15.80 billion, missing estimates. Consulting revenue slid 3% to $8.02 billion. Oversaw services revenue was up 3% to $7.78 billion. New bookings declined 2% to $21.58 billion. Adjusted earnings per due (EPS) of $2.77 came in better than anticipated.
CEO Julie Sweet said Accenture dealt with “an uncertain macro locale.”
Accenture said it anticipates current-quarter revenue in a range of $16.25 billion to $16.85 billion, below analysts’ predictions. It projects full-year sales growth of 1% to 3%, down from its previous projection of a rise of 2% to 5%. The Theatre troupe 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 generate shareholders a higher quarterly dividend on Feb. 15 of $1.29 per share, up from the previous $1.12, announced another $1.29-per-share dividend payout hand down come on May 15 to shareholders of record on April 11.
Shares of Accenture were 8.2% lower at $350.35 as of about twelve oclock noon ET Thursday. They’ve gained 0.7% year to date and close to 36% over the past 12 months.
TradingView
Pore over the original article on Investopedia.