By Dean Seal

Shares of Accenture declined after the company reported a 10% drop in bookings for its fiscal fourth quarter and projected lower adjusted earnings for fiscal 2024 than analysts had expected.

The stock was down 5% at $298.90 in premarket trading. When the market closed Wednesday, shares had risen 18% year-to-date.

The professional-services company said Thursday morning that earnings fell in the quarter ended Aug. 31 as bookings fell 10%.

For the next fiscal year, Accenture is projecting adjusted earnings, which strip out one-time items, of $11.97 to $12.32 a share. Analysts polled by FactSet had been expecting adjusted earnings of $12.38 a share.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

September 28, 2023 08:22 ET (12:22 GMT)

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