IT services firm Accenture has today forecast first-quarter revenue below Wall Street targets, as a tough economy forces clients to defer projects and scale down the scope of deals.
The US Federal Reserve's forecast earlier this month that it would leave interest rates elevated for longer than widely expected, has added to concerns that enterprise spending will take longer-than-expected to return to healthy levels.
Indian IT services giant Infosys halved its full-year revenue forecast in July, citing delayed decision-making on future projects from clients, while Tata Consultancy Services has also flagged soft demand.
Accenture expects revenue in the range of $15.85 billion to $16.45 billion in the first quarter.
Analysts polled by LSEG forecast revenue of $16.43 billion.
Accenture said its revenue rose 4% to $16 billion in the fourth quarter ended August 31, compared with estimates of $16.08 billion.
In August, Accenture announced plans to make 890 staff from its Irish operations redundant.
The company, which offers management consultancy services here for other organisations, currently employs around 6,500 people in Ireland.
