Capgemini's first-quarter revenue up 7%, in line with estimates
Capgemini Q1 2024 Financial Performance Overview
Revenue Growth and Currency Impact
April 30 - French IT services group Capgemini <CAPP.PA> reported a 7% year-on-year increase in first-quarter revenue at constant exchange rates on Thursday, in line with its guidance.
The company said growth would have reached 11% without the impact of currency fluctuations.
Quarterly Revenue and Bookings
Revenue came in at 5.9 billion euros ($6.88 billion), while bookings rose 6.2% year-on-year to 6 billion euros during the quarter.
Regional Performance
North America
Revenue in North America grew 20.7% at constant exchange rate to 1.7 billion euros, driven by its recently acquired AI subsidiary WNS.
France and Rest of Europe
Meanwhile revenue decreased 1% in its home market, France, and grew 1.7% in the rest of Europe, with a notable contracting in the Consumer Goods and Public Sectors.
Workforce and Outlook
Headcount Expansion
The group headcount stood at 421,000 at end-march, up 23% year-on-year, reflecting the integration of WNS.
Revenue Growth Target
Capgemini confirmed its target of revenue growth around 6.5% to 8.5%
Currency Exchange Rate
($1 = 0.8578 euros)
Reporting Credits
(Reporting by Leo Marchandon in Gdansk; Editing by Sumana Nandy)
