Accenture's (NYSE: ACN) stock fell 6% on Dec. 16 after the IT services giant posted its latest earnings report. For the first quarter of fiscal 2023, which ended on Nov. 30, its revenue rose 5% year over year (and 15% in local currency terms) to $15.7 billion and surpassed analysts' estimates by $160 million. Its earnings increased 11% to $3.08 per share, which also cleared the consensus forecast by $0.18.
Those growth rates seem stable, but investors clearly weren't impressed and Accenture's stock remains down more than 30% this year. Will this blue chip tech stock bounce back in 2023 and beyond? Let's compare the bear and bull cases to decide.
Image source: Getty Images.
Source Fool.com