Accenture Stock Drops on Slashed 2023 Revenue Outlook Despite Bright Spots
- Accenture stock drops nearly 7% on slashed full-year revenue outlook for 2023
- Company cuts expected 2023 revenue growth forecast from 2-5% down to 1-3%
- Quarterly results were mixed - missed revenue expectations but beat EPS forecasts
- Consulting revenues were down 3% while managed services revenue rose 3%
- AI offerings and spending remain bright spot with 50% jump in AI project bookings