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06/20 06:04

Accenture's stock price has plummeted to its lowest level since 2017, driven by concerns that the rapid growth of artificial intelligence is weakening traditional consulting and IT outsourcing business models. The company's shares dropped 18% after it lowered its income forecast, sparking investor worries. New orders decreased to 19.3 billion in the three months ending May, a 3% decline from the same period last year. Accenture now expects annual revenue growth of no more than 4%, down from its previous guidance range of 3% to 5%. The company's market capitalization has shrunk from over 200 billion to under 80 billion. Despite this, Accenture is seeking new growth areas, including a significant increase in its acquisition budget, which is expected to reach 9 billion this fiscal year. The company recently announced three cybersecurity-related acquisitions, totaling 4.2 billion in enterprise value
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