Shares of Accenture (ACN) - Get Report fell Thursday, even as the company delivered a quarterly earnings beat, with investors reacting warily to the global IT consulting and outsourcing giant's less robust expectations for future growth.
Accenture's stock price is off .57%, to $189.79 as investors reacted to the company's tempered first-quarter revenue forecast. It now projects first-quarter revenue of between $10.9 billion and $11.2 billion, falling short of the $11.2 billion expected by analysts, Reuters reported, citing IBES data from Refinitiv.
Accenture also fell short of analysts' expectations on revenue for the quarter ended in August, weighing in at $11.06 billion, or 0.12% below the estimate of analysts surveyed by Zacks Investment Research. Revenue was up over the same quarter a year ago, though, when it rang in at $10.15 billion.
The global IT consulting firm surprised investors by reporting earnings for the quarter of $1.74 a share, beating the $1.71-a-share consensus of analysts polled by Zacks. That was compared with $1.58 a share during the same quarter in 2018.
(An earlier version incorrectly reported that Accenture has expressed concern the ongoing trade war between the United States and China could have a negative impact on the company's bottom line.)