Global professional services company Accenture (NYSE:ACN) will be reporting results this Thursday before market hours. Here’s what to expect.
Accenture met analysts’ revenue expectations last quarter, reporting revenues of $18.72 billion, up 5.6% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations.
Is Accenture a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Accenture’s revenue to grow 2.5% year on year, slowing from the 7.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Accenture rarely misses Wall Street’s revenue estimates.
With Accenture being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for it services & other tech stocks. However, the whole sector has faced a sell-off over the last month with stocks in Accenture’s peer group down 4.7% on average. Accenture is down 6.5% during the same time .
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