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Is Accenture Stock a Buy Now?

TheMotleyFool

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Accenture (NYSE: ACN) posted its third-quarter earnings results on June 23. The IT services giant's revenue rose 22% year over year (27% in local currency terms) to $16.2 billion, which beat analysts' expectations by $200 million.

Its net income grew 15% to $1.79 billion, or $2.79 per share, but fell short of the consensus forecast by $0.04 per share. It mainly attributed that miss to a $0.15-per-share impact from the shutdown of its Russian business.

Accenture's headline numbers looked solid, but its stock barely budged after the report. Should investors pick up some shares of this blue chip tech stock as a defensive play in this turbulent market?

Source Fool.com

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