Accenture forecasts Q3 revenue below estimates at around $16.7 billion

IT services firm Accenture Plc forecast third-quarter revenue below Wall Street estimates on Thursday on worries that budget cuts from recession-wary enterprises will weigh down on its business.

The company forecast current-quarter revenue in the range of $16.1 billion and $16.7 billion. Analysts on average were expecting revenue of $16.64 billion, according to Refinitiv data.