Accenture: cuts full-year outlook to reflect corona impact

(CercleFinance.com) - Outsourcing and consulting services provider Accenture has cut its full-year outlook on Thursday, citing the uncertainty around the potential effect of the coronavirus pandemic.


For fiscal year 2020, the company now expects revenue to grow by between 3% and 6% in local currency, compared with 6% to 8% previously.

For its second quarter 2020, its revenues were 11.1 billion dollars, compared with 10.5 billion dollars in the second quarter 2019, up 7% in US dollars and up 8% in local currency.

The figure comes in at the top end of the company's guidance range of 10.85 billion dollars to 11.15 billion dollars.

Net income for the quarter was 1.25 billion dollars, or 1.91 dollar per share, up 10% from 1.14 billion dollars in the second quarter last year.

Analysts on average had expected earnings of 1.72 dollar, on revenue of 11.1 billion dollars.

The market cheered this performance, with its share rising 9% in New York, as the group is one of the few listed companies able to provide an exact estimate of the impact of the coronavirus outbreak on its results.

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