Accenture narrows full-year guidance; Q3 revenue declines 1% to $16.47 bn

Information technology (IT) services and consulting major Accenture’s third-quarter (Q3) 2023-24 (FY24) results continued to reflect pressure on discretionary spending, with growth driven by managed services deals.

The company, considered a benchmark for the Indian IT services industry, revised its full-year revenue guidance, narrowing it to a growth range of 1.5 per cent to 2.5 per cent, compared to the previous 1 per cent to 3 per cent.

Revenues for Q3FY24 totalled $16.47 billion, down from $16.56 billion in Q3 2022-23 (FY23), marking a 1 per cent decrease.