By Adriano Marchese

Irish-American professional services company Accenture expects foreign-exchange effects to hit revenue growth in the second fiscal quarter, missing analyst expectations.

Accenture said Tuesday that it expects revenue to be in the range of $15.5 billion and $16 billion, which represents a decline of 2% to a gain of 2% in local currency. Analysts polled on FactSet expected revenue to grow to $16.25 billion.

The company said this reflects its assumption that foreign exchange will have a 0.5% negative effect compared with a year ago.

For the full fiscal year of 2024, Accenture expects that the foreign exchange effect will be flat compared with the previous fiscal year, and expects revenue growth to be in the range of between 2% and 5% in local currency.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 19, 2023 07:24 ET (12:24 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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