French IT services group Capgemini reported first-quarter revenue that rose 7% year-on-year at constant exchange rates, the company said on April 30. Management noted that, absent currency movements, growth would have been 11%.
Top-line and bookings
Revenue for the quarter came in at 5.9 billion euros ($6.88 billion). Bookings increased 6.2% year-on-year to 6.0 billion euros during the period, reflecting continued demand for the group's services.
Regional performance
North America was the standout region, with revenue up 20.7% at constant exchange rates to 1.7 billion euros, a rise the company attributed to its recently acquired AI subsidiary WNS. By contrast, revenue in France decreased by 1% and revenue in the rest of Europe grew 1.7% overall. The company reported notable contraction in the Consumer Goods and Public Sectors within its European footprint.
Workforce and integration
Capgemini's group headcount stood at 421,000 at end-March, an increase of 23% year-on-year. The company said this rise reflected the integration of WNS into the group.
Guidance
Capgemini confirmed its revenue growth target for the year at around 6.5% to 8.5% ( $1 = 0.8578 euros ).
Overall, the quarter delivered results consistent with the company’s guidance, with currency fluctuations reducing the reported growth rate compared with constant-currency performance and with regional dispersion across markets and sectors.