Accenture reports 4th quarter earnings, revenue that met expectations

Accenture (ACN) on Thursday reported fiscal fourth-quarter earnings and revenue that were largely in line. Shares of ACN fell marginally as guidance for fiscal 2023 was mixed as foreign exchange rates weighed on the company’s outlook.




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Shares of ACN fell a fraction to near 265 in early trading on the stock market today.

Accenture’s earnings for the quarter ended Aug. 31 rose 18 percent to $2.60 a share, the Dublin-based firm said. Including acquisitions, revenue rose 15 percent to $15.42 billion, Accenture said.

Analysts had expected Accenture to earn $2.57 per share on sales of $15.41 billion. A year earlier, Accenture earned $2.20 per share, including investment gains, on sales of $13.42 billion.

ACN Shares: Fiscal 2023 Outlook

For the full fiscal year 2023, Accenture said it expects revenue growth in the range of 8% to 11%. Analysts had forecast revenue growth of about 8.8%, or $66.38 billion. Accenture forecast EPS in a range of $11.09 to $11.41, versus estimates of $11.97.

Additionally, ACN shares are down about 34% in 2022 amid volatility in tech stocks.

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

Heading into Accenture’s earnings report, shares of ACN had a Relative Strength Rating of 36, according to IBD Stock Check.

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

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