Accenture cuts revenue growth forecast range

IT consulting firm Accenture narrowed its full-year revenue growth forecast range as enterprise customers curbed spending and delayed projects due to the coronavirus-fueled slump in demand.
Accenture digital strategyAccenture, which competes with Cognizant and major Indian IT companies such as Tata Consultancy Services (TCS), Infosys and Wipro, expects foreign exchange rates to negatively impact its results by 1.5 percent compared to fiscal year 2019.

The company said it expects fiscal 2020 revenue growth to be between 3.5 percent and 4.5 percent, compared with its prior forecast of 3 percent to 6 percent.

The IT consulting and services provider forecast fourth-quarter revenue between $10.6 billion and $11 billion.

Revenue was down nearly 1 percent to $10.99 billion.