Accenture forecasts fourth-quarter revenue below estimates on forex hit

Accenture cut the higher end of its annual profit forecast range. It expects fiscal 2022 earnings per share to be in range of $10.61 to $10.70, compared with its previous estimate of $10.61 to $10.81

IT services company Accenture Plc forecast fourth-quarter revenue below expectations and tempered its fiscal 2022 profit forecast on Thursday, threatened by rising inflation and the impact of a stronger dollar on its overseas earnings.

Foreign exchange headwinds have also forced companies such as Microsoft and Salesforce to temper their

expectations for the year.

A hawkish Federal Reserve and heightened geopolitical tensions have driven gains in the dollar against a basket of currencies over the last year.

Typically, a stronger dollar eats into the profits of companies that have sprawling international operations and convert foreign currencies into dollars.

Accenture, which makes more than half of its