Accenture stock falls after earnings beat expectations but revenue outlook was a bit downbeat

Shares of Accenture PLC ACN dropped 2.3% toward a fourth-straight loss after the management consultant reported fiscal third-quarter results that beat expectations but provided a somewhat downbeat revenue outlook. Net income for the quarter to May 31 rsoe to $2.01 billion, or $3.15 a share, from $1.79 billion, or $2.79 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $3.19 beat the FactSet consensus of $3.01. Revenue grew 2.6% to $16.

15 a share, from $1.79 billion, or $2.79 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $3.19 beat the FactSet consensus of $3.01. Revenue grew 2.6% to $16.56 billion, above the FactSet consensus of $16.49 billion, as consulting revenue fell 4% to $8.69 billion while managed services revenue increased 10% to $7.87 billion. Looking ahead, the company expects fourth-quarter revenue of $15.75 billion to $16.

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