Accenture Tops Q2 Sales Estimates But Profit Comes Up Short | Global News Avenue

Accenture (ACN) reported higher revenues, but profits were lower than analysts’ expectations for the second quarter.

Professional service company release Earnings per share (EPS) Revenue was $2.82 for $16.66 billion. Analysts predicted by Alpha voting $2.85 and $16.61 billion, respectively.

Accenture has raised its full-year revenue range forecast to a 5% increase, up 5% from the previous 4%. It also improved the lower end of the EPS forecast from $12.43 to $12.55.

Thursday’s report came ahead of Thursday’s report, Morgan Stanley and Jefferies analysts lowered the stock’s price target, citing uncertainty surroundings for the company’s clients. Jeffries said they think Accenture’s clients “have become more cautious over the past month.”

Morgan Stanley analysts said Accenture “challenges” Accenture “challenges” given the Trump administration’s focus on government spending cuts and “response to restricted trade measures across the economy.”

Accenture stock has fallen nearly 15% over the past year, with little change since the report was released.