Accenture Drops 6% on Guidance Cut

Accenture Drops 6% on Guidance Cut March 21, 2024, 9:51 a.m., readers: 3

Accenture (NYSE:ACN) experienced a 6% drop in its stock price intra-day today after the company adjusted its revenue growth expectations for the fiscal year 2024 downward. In its Q2, Accenture reported an earnings per share of $2.77, which was higher than the anticipated $2.66 by analysts. However, its revenue of $15.8 billion was just shy of the $15.84 billion forecast. For the upcoming Q3, Accenture projects its revenues to range between $16.25 billion and $16.85 billion. For the fiscal year 2024, Accenture has revised its expected revenue growth to between 1% and 3% in local currency, down from the earlier projection of 2% to 5%.

About NYSE: ACN

A ccenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services;

Price: 313.94
Market cap: 197.4 billion USD
Eps: 11.03
P/e ratio: 28.46
Focus Analysis On: ACN