ACN Stock Slips As Accenture Reports Q4 Earnings, Revenue That Meets Expectations

Accenture (ACN) on Thursday reported fiscal fourth-quarter earnings and revenue that were largely in line. ACN stock slipped a fraction as fiscal 2023 guidance came in mixed as currency exchange rates impacted the company’s outlook.




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

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

Analysts expected Accenture earnings of $2.57 a share on sales of $15.41 billion. A year earlier, Accenture earned $2.20 a share, including investment gains, on sales of $13.42 billion.

ACN Stock: Fiscal 2023 Outlook

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

In addition, ACN stock has retreated some 34% 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, ACN stock had a Relative Strength Rating of 36, according to IBD Stock Check Up.

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

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