Accenture fans IT industry spending gloom with annual forecast cut

IT services provider Accenture cut its fiscal-year 2024 revenue forecast on Thursday, as an uncertain economy prompts clients to curtail spending on its consulting services, sending its shares down around 5.6% in premarket trading.

Accenture now expects full-year revenue growth in the range of 1% to 3%, from its prior forecast of 2% to 5%.