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Accenture beat Wall Street’s estimates for earnings and revenue.
Pau Barrena / AFP via Getty Images
Shares of
Accenture
fell Thursday after the IT services company lowered its revenue growth outlook for the fiscal year.
Accenture
(ticker: ACN) said it expects fiscal 2023 revenue growth in the range of 8% to 9%. The company previously expected revenue growth of between 8% to 10%.
Accenture
reported adjusted fiscal third-quarter earnings of $3.19 a share on revenue of $16.56 billion. Analysts surveyed by FactSet were expecting earnings of $3.01 a share on revenue of $16.49 billion.
“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,” Chief Executive Julie Sweet said in the earnings report.
Shares of Accenture were falling 5.5% in premarket trading Thursday to $296. Coming into the session, the stock has jumped 17% this year.
Write to Angela Palumbo at [email protected]
Source: https://www.barrons.com/articles/accenture-stock-earnings-6ce8314e?siteid=yhoof2&yptr=yahoo