Accenture’s Revenue Forecast Misses Estimates. The Stock Falls.

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Accenture

fell more than 3% in premarket trading Thursday after reporting quarterly results that included a lower-than-expected revenue estimate.

 

Accenture

(ticker: ACN), the management consulting firm, said it expects fiscal fourth-quarter revenue of $13.1 billion to $13.5 billion, which reflects a 4% hit from currency movements compared to the same quarter a year ago. Analysts had expected revenue to reach $15.8 billion, according to FactSet.

For the quarter ended May 31, Accenture said new bookings increased 39% to $15.4 billion. Earnings per share were 88 cents, 10% higher than a year ago.

The company said revenue growth for the fiscal year ending Aug. 31 will rise 10% to 11% in local currency terms. It estimates that operating margin will be 15.1%.

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