Why Accenture (ACN) Stock Is Declining Today

NEW YORK (TheStreet) -- Shares of Accenture  (ACN) are declining 1.44% to $78.45 in early market trades this morning after the business consulting company forecast a first quarter revenue range of $7.55 billion to $7.8 billion, lower than the $7.8 billion analysts' expect.

The company said it faces tough industry competition and provided cautious full-year earnings outlook of $4.74 to $4.88 per share, less than analysts' estimate of $4.91 per share.

For the fiscal fourth quarter, the company reported earnings of $760.2 million, or $1.08 per share, up from $727.3 million, or $1.01 per share, one year ago, but lower than the $1.10 per share analysts expected.  

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Net revenue rose to $7.78 billion from $7.09 billion, and beat analysts' expectations of $7.62 billion for the quarter.

ACN Chart ACN data by YCharts

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