Deloitte sees record global revenue of $43.2B in FY2018
Deloitte reported $43.2 billion in global revenue for its network of member firms for the fiscal year ended May 31, 2018, an 11.3 percent increase of $4.4 billion over the prior year.
The Big Four firm said all of its service lines, industries and regions experienced growth over the past year. Consulting revenue grew at the fastest pace at 15.7 percent, with double-digit growth in each core area of technology, strategy & operations, and human capital. Risk advisory had the second-highest revenue growth at 12 percent, thanks largely to growth in cyber, financial and operational risk business. Deloitte’s tax & legal practice achieved 8.7 percent revenue growth. The financial advisory area saw 8 percent revenue growth. The audit and assurance practice grew 7.7 percent.
Overall, the Europe, Middle East, and Africa region grew fastest, at 15.9 percent, followed by the Asia Pacific region at 13.3 percent, and the Americas at 8 percent.
“FY2018 was exceptional for Deloitte as we continued to deliver a measurable impact for clients, our people and society,” said Deloitte Global CEO Punit Renjen in a statement. "Over the past year, we have increased strategic investments in the capabilities and services most sought-after by clients in the fastest-growing markets in the world. We also have expanded our efforts and investments to drive audit quality and innovation while achieving strong financial results.”
The consumer and industrial products industry was the top contributor among client industries driving growth at Deloitte, with $1.3 billion in revenue from FY 2017 to FY 2018. Other industries driving growth in fiscal 2018 were technology, media & telecommunications, and financial services. Revenue from each of them grew more than 12 percent on a U.S.-dollar basis.
The number of employees worldwide increased 8.4 percent to more than 286,000 professionals. Growth happened across all regions and practice areas, with Deloitte hiring more than 77,000 professionals. The Asia Pacific region led the way in hiring, growing its number of employees by 11.6 percent. In terms of hiring for services, consulting led at 14.7 percent.
Deloitte elevated 676 professionals to partner in fiscal 2018, a 19 percent increase from 2017; 174 of them are women. Geographically, Asia-Pacific had the largest share of new partners, with 242 professionals, a nearly 30 percent increase over last fiscal year. The Americas elevated 238 new partners, while the EMEA region elevated 196 people to partner.