Accenture Signals More Pain for IT Industry With Disappointing Forecast

Accenture fanned concerns about dwindling IT spending on Thursday with a quarterly revenue forecast that was below Wall Street estimates, sending its shares down more than 5%. From a report: CEO Julie Sweet said clients were "holding back on small deals" in the face of an uncertain economic outlook, mirroring remarks from Cognizant Technology Solutions last month. Accenture forecast current-quarter revenue in the range of $15.75 billion to $16.35 billion.
Analysts on average expect revenue of $1