Shares of Accenture (ACN) are down 2% after the information technology company provided forward guidance that fell short of Wall Street’s expectations.
For what was its first fiscal quarter, Accenture reported earnings per share (EPS) of $3.27 U.S., which beat analyst forecasts of $3.14 U.S.
Revenue in the quarter came in at $16.20 billion U.S., which beat consensus estimates of $16.17 billion U.S.
However, for its fiscal second quarter, Accenture forecast revenue of $15.40 billion U.S. to $16 billion U.S. Wall Street analysts had expected sales of $16.25 billion U.S. for the current quarter.
The guidance miss has Accenture’s stock under pressure, though the company did maintain its guidance for the entire fiscal year.
Accenture’s stock has increased 27% in 2023 and currently trades at $341.85 U.S. per share, which is near its 52-week high.
