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Accenture worried about IT spending

by on23 June 2023


Revenue forecast down

IT outsourcer Accenture is worried about falling IT spending after showing a quarterly revenue forecast below what the cocaine nose-jobs of Wall Street expected.

CEO Julie Sweet said clients were "holding back on small deals" amid an uncertain economic outlook. Accenture forecasts current-quarter revenue in the range of $15.75 billion to $16.35 billion. Analysts on average, expected revenue of $16.35 billion.

The company blamed the weakness on its business catering to the tech, media and communications industries, which have sharply dialled back spending in recent months to cope with slowing growth.

Revenue for that group fell eight per cent in the third quarter. North America - Accenture's biggest market - also performed poorly in the March to May period, with revenue growth slowing to a nearly three-year low of two per cent.

 

Last modified on 23 June 2023
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