Accenture Shares Drop 5% to 6.3% After EPS Beat, Revenue Forecast Cut

Accenture's shares fell by 5% in pre-market trading and further slid to 6.3% following an announcement on Thursday of a lower-than-expected earnings per share (EPS) beat and a cut to its fiscal-year 2024 revenue forecast. The IT services giant cited an uncertain economic environment leading clients to reduce spending on consulting services as the primary reason for the adjustment. This news has contributed to growing concerns about IT industry spending amid economic uncertainties.