Invezz
01 Oct 2026, 15:39 UTC · 2w ago
Why Accenture's strong Q4 earnings aren't enough for TD Cowen
Impact · against what's priced in
The news is largely a non-event for Accenture as the market had already priced in a structural decline, making the low 3-6% guidance a confirmation of the bear case rather than a new shock. For Microsoft, the article reinforces its position as the 'safe' spend in a tightening IT budget environment, though this is already largely captured in its cloud growth assumptions.
- ACN−0.10
Already priced in
- The price assumes
Revenue growth decelerating from the 7.4% just delivered down to a sustained contraction
The price already assumes a -3.2% CAGR; FY27 guidance of 3-6% is a significant deceleration from recent Q4 growth, confirming the market's expectation of a structural slowdown.
What ACN's price assumes · Aug 26
