Accenture Falls After Warning DOGE Cost Cuts Are Hurting Sales

Accenture Plcshares tumbled after the consultancy said its US government work has slowed amid Elon Musk’s cost-cutting push.

The company, with nearly 800,000 employees around the world, said new procurement actions had decreased amid President Donald Trump’s spending crackdown, hurting its sales and revenue. Accenture Chief Executive Officer Julie Sweetsaid on a call discussing earnings that federal services accounted for about 8% of its global revenue and about 16% of its Americas revenue in the 2024 fiscal year.

The company reported $16.7 billion of revenue in the three months through February, a 5% increase on the ...