March 19, 2020 / 11:23 AM / 15 days ago

UPDATE 1-Accenture forecasts lower-than-expected quarterly revenue on coronavirus fears

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March 19 (Reuters) - Accenture Plc on Thursday forecast third-quarter revenue below analysts' expectations and cut its full-year revenue and earnings outlook, citing an impact from the coronavirus outbreak.

The online consulting and service provider forecast third-quarter revenue between $10.75 billion and $11.15 billion, compared with the average analyst estimate of $11.74 billion, according to IBES data from Refinitiv.

Some brokerages had expressed fears that project delays and slowing consumer spending due to the virus outbreak could hurt the company's business.

"Accenture's third-quarter and full-year 2020 business outlook reflects its assumptions, as of today, regarding the potential effect of the coronavirus pandemic," the company said.

The company said it expects 2020 revenue growth to be between 3% and 6%, compared with its prior forecast of 6% to 8%. It forecast full-year profit between $7.48 per share and $7.70 per share, down from a prior expectation of $7.66 to $7.84.

Net income attributable to the company rose to $1.23 billion, or $1.91 per share, in the second quarter ended Feb. 29, from $1.12 billion, or $1.73 per share, a year earlier.

Revenue rose 6.6% to $11.14 billion, beating estimates of $11.1 billion.

Shares of the company were up 2.55% in premarket trading. (Reporting by Amal S in Bengaluru; Editing by Shinjini Ganguli)

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