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Accenture (NYSE: ACN) posted its latest earnings report on June 22. For the third quarter of fiscal 2023 (ended May 31), the IT service provider’s revenue rose 3% year over year (5% in local currency terms) to $16.6 billion and exceeded analysts’ expectations by $80 million. Its adjusted EPS grew 14% to $3.19 and also cleared the consensus forecast by $0.19.
Those headline numbers were stable, but Accenture’s stock price still dropped 2% after the report, and it remains 24% below its all-time high from December 2021. Should investors still buy this blue-chip tech stock as the bulls look the other way?
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