Accenture (NYSE: ACN) was down in morning trading on Friday after the Dublin-based professional services company’s Q2 revenue outlook fell short of estimates.
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Accenture has forecasted fiscal Q2 revenues between $15.20 billion and $15.75 billion, up by 6% to 10% in local currency. But the mid-point of this range was lower than analysts’ estimates of $15.61 billion.
The company posted fiscal Q1 revenues of $15.7 billion, up 5.2% year-over-year and beating consensus estimates by $160 million.
Diluted earnings came in at $3.08 per share, an increase of 11% year-over-year and surpassing Street estimates of $2.92.
ACN’s new bookings declined 3% year-over-year to $16.2 billion
When it comes to Accenture’s outlook for FY23, it expects its revenues to grow in the range of 8% to 11% year-over-year in local currency terms. Diluted EPS is anticipated to be in the range of $11.20 to $11.52, up 5% to 8% year-over-year.
ACN scores a Moderate Buy consensus rating based on 11 Buys, three Holds and one Sell.
