Accenture's earnings report causes a drop of over 17%, dragging down the IT services sector.

Golden Finance reported that on June 18, the IT services sector declined. Accenture plunged by more than 17%, Wipro and HighGo fell by nearly 8%, IBM dropped by 6.6%, Infosys fell by 5.7%, and GDS fell by more than 3%. On the news front, Accenture said that its third-quarter order value unexpectedly decreased by 2%, pointing to continued fundamental uncertainty for the industry amid the “AI disruption everything” superstorm led by AI application leader Anthropic. The company expects its revenue for the fourth quarter to range between $17.75 billion and $18.4 billion, below the roughly $18.47 billion consensus estimate from analysts.
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