Accenture signals more pain for IT industry with disappointing forecast

FILE PHOTO: Accenture PLC logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Accenture fanned concerns about dwindling IT spending on Thursday with a quarterly revenue forecast that was below Wall Street estimates, sending its shares down more than 5%.

CEO Julie Sweet said clients were "holding back on small deals" in the face of an uncertain economic outlook, mirroring remarks from Cognizant Technology Solutions last month.