{"id":1652531,"date":"2022-09-22T07:07:11","date_gmt":"2022-09-22T11:07:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1652531"},"modified":"2022-09-22T07:07:45","modified_gmt":"2022-09-22T11:07:45","slug":"accenture-forecasts-revenue-below-estimates-on-it-spending-cut-higher-dollar","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/accenture-forecasts-revenue-below-estimates-on-it-spending-cut-higher-dollar\/","title":{"rendered":"Accenture forecasts revenue below estimates on IT spending cut, higher dollar"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faccenture-forecasts-revenue-below-estimates-on-it-spending-cut-higher-dollar%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1652531&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) -IT services firm Accenture Plc forecast first-quarter revenue below expectations on Thursday, weighed down by IT spending cuts amid high inflation and impact from a stronger dollar.<\/p>\n<p>Foreign exchange headwinds have intensified since Accenture\u2019s third-quarter results, with the U.S. dollar at a two-decade high against a basket of currencies and up about 16% so far this year amid sharp Fed rate hikes and rising geopolitical tensions.<\/p>\n<p>This has impacted companies with significant overseas operations including Microsoft, Salesforce and IBM.<\/p>\n<p>Analysts worry a protracted economic slowdown could dent robust IT spending with the cracks already showing after Salesforce cut its annual revenue and profit forecast noting \u201cmeasured\u201d spending from clients.<\/p>\n<p>A strong dollar typically eats into profits of IT companies that convert foreign currencies into dollars.    <\/p>\n<p>The company forecast current-quarter revenue between $15.20 billion and $15.75 billion, compared with analysts\u2019 average estimate of $16.07 billion, according to data from Refinitiv.<\/p>\n<p>The forecast reflects the assumption of about 8.5% negative foreign-exchange impact, the company said.<\/p>\n<p>Revenue for the quarter ended Aug.31 was $15.40 billion compared with analysts\u2019 average estimate of $15.39 billion, according to data from Refinitiv.<\/p>\n<p> (Reporting by Chavi Mehta in Bengaluru;Editing by Vinay Dwivedi)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/accenture-forecasts-revenue-below\/file-photo-illustration-shows-a-smartphone-with-displayed-accenture-plc\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8L0HQ-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8L0HQ-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -IT services firm Accenture Plc forecast first-quarter revenue below expectations on Thursday, weighed down by IT spending cuts amid high inflation and impact from a stronger dollar. Foreign exchange<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1652531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1652531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1652531"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1652531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1652531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1652531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1652531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}