Accenture Revises Revenue Forecast Downward Amid Economic Uncertainty

The global consulting firm sees its stock price fall after adjusting its full-year revenue growth projections and reporting a mixed financial performance.

• Accenture lowers its full-year revenue growth forecast to 1%-3% from the previously estimated 2%-5% due to an uncertain macro environment.
• The company's second-quarter fiscal 2024 revenue slightly declined, with consulting revenue dropping 3% and managed services revenue increasing 3%.
• Accenture's stock fell over 8% following the announcement, marking a significant downturn in its market performance.
• Despite the downturn, Accenture continues to invest in AI, with bookings for AI projects up 50% quarter-over-quarter.
• The company maintains its commitment to shareholder returns, increasing its quarterly dividend and announcing a new dividend payout.

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