Accenture has invested heavily in its digital and cloud services, amid stiff competition from Cognizant and Biggish Blue.
Revenue in its consulting unit, which has a higher profit margin than its outsourcing business, increased 2.6 percent in the second quarter its slowest growth in more than a year.
Chief Financial Officer David Rowland told the press that he plans to write $1.5 billion cheques for acquisitions in the year ending August.
Accenture said it expects adjusted profit of $5.70 to $5.87 per share for its year ending August, slightly higher than its prior forecast of $5.64 to $5.87 per share.
However, the company narrowed its full-year revenue forecast growth range to 6 percent to 8 percent in local currency, from its earlier 5-8 percent range.
The new forecast points to revenue of between $34.86 billion to $35.51 billion.
Analysts on average are expecting a profit of $5.87 per share and revenue of $34.60 billion.
Accenture said second-quarter net revenue rose 4.7 percent to $8.32 billion, as it benefited from strong demand for its digital, cloud and security-related services, which made up more than 45 percent of revenue.
Net income attributable to Accenture fell to $838.8 million in the quarter, from $1.33 billion last year.
Profit in the year-ago quarter received help from a $553.6 million gain on the sale of some businesses.
The company’s profit in the second quarter was hurt in part by a higher tax rate and increased operating costs, up 4.3 percent to $7.62 billion.
Analysts on average had expected revenue of $8.34 billion.