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2w ago

Accenture Shares Dive 11% Despite Q3 Beat as Indian IT Stocks Slide

With a raised full-year revenue outlook, Accenture earmarked $1.5 billion in AI bookings for its upcoming reinvention services unit.

Accenture Q3: Why Infosys, HCL, TCS, Wipro shares are falling today; top stock picks
IT Stocks | Image: Unsplash
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Overview

  • Accenture posted third-quarter revenue of $17.7 billion and earnings per share of $3.49, beating analysts’ estimates.
  • New bookings fell 6% to $19.7 billion in US dollar terms, signaling softer client demand.
  • Shares plunged 11% to $273.19 in New York trading following the earnings report.
  • Infosys, Wipro, TCS and other Indian IT stocks declined, driving Nifty IT nearly 2% lower.
  • The company raised its full-year revenue growth forecast to 6–7% and plans a dedicated reinvention services unit to expand AI consulting.