Accenture Earnings Miss On Russia Impact As Sales Outlook Falls Short

Accenture (ACN) on Thursday reported fiscal third-quarter earnings that missed estimates amid discontinued operations in Russia. ACN stock fell as  revenue guidance came in below expectations as currency exchange rates impacted the company’s outlook.


Accenture stock tumbled 3.6% to 276 in early trading on the stock market today.

Accenture earnings for the quarter ended May 31 rose 16% to $2.79 per share, said the Dublin-based company. Discontinued operations in Russia lowered earnings by 15 cents, the company said.

Including acquisitions, the global tech consulting and services company said revenue rose 27% to $16.2 billion.

Analysts expected Accenture earnings of $2.86 a share on sales of $16.04 billion. A year earlier, Accenture earned $2.40 a share, including investment gains, on sales of $13.26 billion.

ACN Stock: Revenue Guidance Misses Estimates

For its fiscal fourth quarter, Accenture said it expects revenue in the range of $15 billion to $15.5 billion. Analysts had projected revenue of $15.85 billion.

Accenture has discontinued operations in Russia amid the Ukraine war.

In addition, ACN stock has retreated some 31% in 2022 amid volatility in tech stocks.

Accenture continues to make acquisitions to move into digital, cloud and cybersecurity products. It also has invested in artificial intelligence and blockchain technology.

Heading into the Accenture earnings report, the stock had a Relative Strength Rating of 58, according to IBD Stock Check Up.

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns for issues such as ACN stock is one key to the investment guidelines.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.


Bear Market News And How To Handle A Market Correction

Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists

How To Use The 10-Week Moving Average For Buying And Selling

Source link

Leave a Reply

Your email address will not be published.