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Accenture: rising costs affects on profit

Management consulting and professional services company Accenture Plc reported a decrease in quarterly profit on Thursday, due to higher costs.

The company's shares fell 2.7% at $123.11.

Operating costs grew by 4.3% to $7.62 billion in the second quarter.

Accenture actively investing in fast-growing businesses such as digital and cloud services, against stiff competition between Cognizant Technology Solutions Corp and IBM.

For the current quarter, the company forecast earnings in the range of $8.65 billion or $8.90 billion.

The company's net profit declined to $838.8 million, or $1.33 per share in the second quarter? From $1.33 billion, or $2.08 per share, a year earlier.

Accenture's net revenues increased by 4.7% to $8,32 billion, helped by high demand for its digital and cloud services, which represent more than 40% of revenue.


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