On June 22, 2017, Accenture (NYSE:ACN) reported impressive top-line and bottom-line growth for the most recent quarter with revenue up ~5% YoY (7% in local currency) and adjusted EPS up ~8% YoY. The market, however, was not so impressed. ACN shares have slightly underperformed the broader market on a YTD basis, but the stock is down ~4% since the company released the Q3 2017 results (period-ended May 31, 2017).
(Source: Nasdaq)
The financial community looked past Accenture's strong operating results for the quarter and, instead, focused only on the lackluster fiscal 2017 guidance (more on this below). In my opinion, investors with a long-term perspective should treat the pullback as a buying opportunity because Accenture's long-term story is still intact.
