In March 2009, Accenture (NYSE: ACN) delivered a shock to investors when it reported revenues and EPS for Q2-2009 under what investors were generally expecting and then dialed down expectations. For Q2-2009, Accenture’s EPS was 63 cents, 1 cent better than consensus expectations of 62 cents, but revenue of $5.27 billion was far less than what Wall Street was expecting at $5.53 billion. At that time, Accenture shares sank $4.60, or 14.4 percent, to $27.36 in morning trading on Friday, March 27, 2009. Management’s Q2-2009 commentary was sobering, and talked about sudden and dramatic shifts in clients and projects...
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