AI fears push Accenture stock to six-year low as growth outlook dims
Accenture’s shares hit their lowest since 2017 after it trimmed revenue guidance, reporting a 3% drop in new bookings to $19.3 billion for the quarter to May and forecasting full-year revenue growth of no more than 4%. The decline, driven by AI-driven disruption to traditional IT and outsourcing models, has slashed its market value to about $82 billion. CEO Julie Sweet pointed to AI-driven demand despite fears of automation reducing consulting needs, while the company counters with aggressive acquisitions—runZero, NetRise, Dragos, and UK AI start-up Faculty—to bolster AI capabilities and cybersecurity offerings.