(Reuters) – French IT consulting group Capgemini cut its full-year revenue target after it reported lower third-quarter sales on Wednesday.
It now expects its revenue to decline by between 2% and 2.4% at a constant currency basis, versus its previous forecast for a drop of 0.5% to 1.5%.
The company’s quarterly revenue fell 1.6% at constant exchange rates to 5.38 billion euros ($5.82 billion), hit by stronger than anticipated headwinds in some of its sectors, especially manufacturing.
($1 = 0.9244 euros)
(Reporting by Leo Marchandon in Gdansk; editing by Milla Nissi)
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