Accenture stock drops 19% to $126.50 after Q4 revenue miss
Accenture just had a rough Thursday. Its stock dropped 19%, landing at $126.50, the lowest in almost nine years.
The big reason? Its forecasted fourth-quarter revenue of $17.75 billion to $18.40 billion missed what analysts were hoping for, and it trimmed its full-year growth outlook to 3% to 4%.
Accenture plans $4.18B operational tech acquisitions
Even though Accenture beat earnings expectations with $3.80 per share, its third-quarter revenue was slightly below expectations at $18.7 billion, and new bookings both fell short compared to last year.
Ongoing conflict in the Middle East shaved off $100 million from its third-quarter numbers and delayed some major deals until 2027.
Despite all this, Accenture announced plans to acquire a majority stake in operational technology company Dragos, runZero, and NetRise, with a combined enterprise value of approximately $4.18 billion, showing it's still betting on future growth even as shares keep sliding this year.