Accenture Is in a Holding Pattern as the Pandemic Drags On
Shares of global consulting and outsourcing titan Accenture (NYSE: ACN) endured a sell-off of roughly 7% in the two trading sessions following the release of the company's fiscal fourth quarter 2020 earnings report on Thursday. Revenue dipped 2% year over year to $10.8 billion, or 1% in local currency, in line with management's previous projection of a negative 3% to positive 1% revenue change in local currency terms.
However, diluted earnings per share of $1.70 fell three cents shy of consensus analyst estimates, and more significantly, management offered uninspiring guidance for the quarter ahead, prompting a round of selling in the company's stock.
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Source Fool.com
