Reported 3 days ago
Accenture has announced that cancellations and delays of federal contracts, due to the Trump administration's spending cuts, have negatively affected its revenue, resulting in a drop of over 6% in its shares. The consultancy firm indicated that the review and termination of non-essential contracts by federal agencies is slowing down new procurement actions, now accounting for 8% of its total revenue. Despite reporting slightly better-than-expected overall revenue, new bookings have decreased by 3%, leading to updated growth forecasts.
Source: YAHOO