Dow Jones Newswires: Capgemini sees double-digit growth across regions, but clients remain cautious

by | May 4, 2023 | Stock Market

Capgemini said Thursday that first-quarter revenue rose 10% organically, with double-digit growth in nearly all regions, despite cautious client sentiment. The French consulting and technology group
said revenue was 5.73 billion euros ($6.34 billion), up from EUR5.17 billion in the same quarter of 2022.

Analysts had seen revenue at EUR5.59 billion, according to a consensus estimate provided by FactSet. The company said most of its regions continued to grow in the double digits at constant exchange rates. “Capgemini has delivered a very good start to the year, above expectations, in an economic environment that remains tense with some clients adopting a ‘wait-and-see’ attitude,” Chief Executive Officer Aiman Ezzat said. Capgemini backed its full-year targets of revenue growth between 4% and 7% at constant currencies, operating margin of 13.0% to 13.2% and organic free cash flow around EUR1.8 billion. Write to Christian Moess Laursen at [email protected]

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