Professional services company Accenture plc (ACN) reported Thursday weak profit in its first quarter, while adjusted earnings and top line beat market estimates. Further, the firm issued second-quarter revenue view, and trimmed fiscal 2026 earnings view on a reported basis. However, the firm maintained annual forecast for adjusted earnings and revenue growth.
In pre-market activity, the shares were losing around 3.5 percent to trade at $264.38.
Looking ahead for the second quarter, the company projects revenues of $17.35 billion to $18.0 billion, with growth in local currency between 1 percent and 5 percent.
The Wall Street analysts on average expect the company to record revenues of $17.78 billion for the quarter. Analysts' estimates typically exclude special items. Further, for fiscal 2026, Accenture now expects earnings per share on a reported basis to be in the range of $13.12 to $13.50, an 8 percent to 11 percent increase from last year. The previous estimate was earnings in a range of $13.19 to $13.57 per share.
The company continues to expect adjusted earnings per share to be in the range of $13.52 to $13.90, a 5 percent to 8 percent year-over-year increase.
The analysts expect the company to report earnings of $13.77 per share for the year.
The firm still expects full-year revenue growth to be 2 percent to 5 percent in local currency. Excluding an estimated 1 percent impact from its U.S. federal business, the company continues to expect revenue growth to be 3 percent to 6 percent in local currency.
In the first quarter, Accenture's earnings totaled $2.211 billion or $3.54 per share, lower than $2.278 billion or $3.59 per share last year.
Adjusted earnings were $2.492 billion or $3.94 per share for the period. The Street was looking for earnings of $3.72 per share for the quarter.
The company's revenue for the period rose 6.0 percent to $18.742 billion from $17.689 billion last year. Analysts estimated revenues of $18.53 billion.
New bookings for the first quarter were $20.94 billion, an increase of 12 percent in U.S. dollars and 10 percent in local currency from the prior year.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.