Why Accenture (ACN) Shares Are Sliding Today - Accenture (NYSE:ACN)

Accenture plc ACN reported first-quarter FY23 revenue growth of 5% year-on-year to $15.7 billion, beating the consensus of $15.6 billion.
New bookings decreased by 3% Y/Y to $16.2 billion. Consulting revenues rose 1% Y/Y to $8.44 billion, and Managed Services revenues (previously referred to as outsourcing) increased 11% Y/Y to $7.30 billion.
EPS of $3.08 beat the consensus of $2.91. The operating margin expanded by 20 bps to 16.5%.
The company generated $397 million in free cash flow and held $5.9 billion in cash and equivalents.
Dividend: Accenture declared a quarterly dividend of $1.12 per share, payable on Feb. 15, 2023, for shareholders of record on Jan. 10, 2023.
Julie Sweet, chair and CEO, Accenture, said, "Our strong first quarter results reflect our laser focus on creating value for our clients, as well as the significant investments in our business and capabilities we make year in and year out to meet the evolving needs of our clients."
Guidance: Accenture sees Q2 FY23 revenue of $15.20 billion - $15.75 billion versus the consensus of $15.59 billion.
Accenture reiterated FY23 revenue of ~$66.52 billion - $68.37 billion versus the consensus of $64.18 billion. It now sees EPS of $11.20 - $11.52, up from the prior $11.09 - $11.41, versus the consensus of $11.36.
Price Action: ACN shares traded lower by 2.59% at $273.85 in the premarket session on the last check Friday.
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Accenture Clocks 5% Revenue Growth In Q1, Net Bookings Slow Down; Boosts FY23 EPS Outlook