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Accenture Says FX Rates Likely to Hurt Yearly Results — Currency Comment

Provided by Dow Jones

Jun 23, 2022 1:34 PM UTC

By Paulo Trevisani

Accenture Plc. said Thursday it expects foreign exchange rates to have a negative impact of 4.5% on its full-year 2022 results compared to a year earlier, up from a 3% hit in its previous guidance.

The company, based in Dublin, reduced its 2022 earnings per share outlook to a range between $10.61 and $10.70, a yearly growth of between 21% and 22%, from $10.61 and $10.81 previously.

Accenture reported third-quarter revenue of $16.2 billion, an increase of 22% in dollar and 27% in local currency versus a year earlier.

The euro has weakened 12% to the greenback over the past 12 months, a trend many pundits expect to continue as interest rates rise faster in the U.S. than in Europe.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

Corrections & Amplifications

This article was corrected at 12:17 p.m. ET to reflect that Accenture Plc reported third-quarter revenue of $16.2 billion, not $12.2 billion.

This article was corrected at 2:34 p.m. ET to reflect that Accenture PLC reported that third-quarter revenue was 27% higher than a year earlier in local currency. The original version incorrectly said revenue was 27% higher in euros.

(END) Dow Jones Newswires

June 23, 2022 09:34 ET (13:34 GMT)

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