Accenture stock slips in premarket after 2024 earnings forecast falls short

Accenture Plc’s ACN stock dropped 2% in premarket trading Thursday after the New York-based professional services company’s adjusted 2024 profit outlook fell short of analyst estimates. Accenture said it expects 2024 adjusted earnings of $11.97 to $12.32 a share, below the FactSet consensus estimate of $12.40 a share.

For the fourth quarter, Accenture’s earnings fell to $1.37 billion or $2.15 a share, from $1.67 billion, or $2.60 a share, in the year-ago quarter. Adjusted earnings in the latest quarter were $2.71 a share, ahead of the FactSet consensus estimate of $2.65 a share. Fourth-quarter revenue rose to $15.97 billion from $15.42 billion in the year-ago quarter, but missed the analyst forecast of $16.07 billion. Accenture Chief Executive Julie Sweet said the company “achieved another strong year” with new bookings of $72 billion for 2023.

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SOURCE: – MarketPulse

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