Unless PwC’s global revenue for fiscal year 2019 increases 11.9% from last year, which likely won’t happen, Deloitte will remain No. 1 among the Big 4 firms in revenue for the fourth consecutive year.
Deloitte announced today that revenue for FY 2019 was $46.2 billion, a 9.4% increase using the magical “local currency” terms and a 6.4% increase using actual mathematics from last fiscal year’s revenue of $43.2 billion. It’s the 10th consecutive year of record-setting growth for D-town.
Here’s what the King of the Green Dots, Punit Renjen, had to say:
“Our FY 2019 results are a validation of Deloitte’s strategy to deliver high-quality, globally consistent service to our clients while continuing to serve the public interest and working to restore trust in capital markets. We evolved and innovated our offerings to address current and emerging client needs, and we increased our investments in learning and development to build a workforce with deep knowledge, capabilities, and leading-edge insights.”
Among the regions, revenue in the Americas grew 9.5% from $22.1 billion in 2018 to $24.2 billion in 2019, the biggest increase in non-local currency terms, followed by Asia Pacific at 7.6% and Europe, the Middle East, and Africa (EMEA) at 3.4%.
Four of the firm’s five core business lines grew in 2019. The only one that didn’t was audit and assurance, which had revenue of $10.2 billion—the same as last year.
Consulting led the way once again with revenue of $18.7 billion, a 13.3% increase in non-local currency growth over last year, followed by risk advisory at 6%, financial advisory at 5.6%, and tax and legal at 5.1%.
Deloitte increased its headcount to 312,028 professionals in 2019, a 9% increase. Growth occurred across all regions, the firm said, with 90,540 new Green Dotters hired.
Of those 312,028 warm bodies, Deloitte said 137,303 are women, or 44% of the workforce.
Here are a few other fun numbers Deloitte provided:
- 3.2 million applications were received worldwide.
- 19,491 internships in 2019.
- 132,795 people
got drunk and/or ate themselves into a food comaexperienced Deloitte University (aka DU, aka Deloitte Disneyland, aka Deloitte Delta Chi) in 2019.
Deloitte is the second Big 4 firm that has released its global revenue results for FY 2019. Last week, EY congratulated itself for reaching $36.4 billion in revenue, which should keep the firm in third place. PwC should release its 2019 results later this month or in early October, while KPMG will release its global revenue in December.