Deloitte reports FY2024 revenue

HANOI, 12 September 2024 — Deloitte today reported aggregate global revenue of US$67.2 billion for the fiscal year ending 31 May 2024 (FY2024), a 3.1% increase in local currency (and 3.6% increase in USD) from FY2023.

"In a complex global environment over the past year, Deloitte successfully sustained a growth trajectory while investing heavily in the next generation of capabilities aligned to emerging areas of client demand,” says Joe Ucuzoglu, Deloitte Global CEO. “Our unrivaled breadth of capabilities spanning advanced technologies, sector depth, and expertise in critical business functions, positions Deloitte uniquely to help clients, markets, and society at large maximize the value of tech-driven transformation.”

Building resilience, creating enduring value

Deloitte pervasively embeds purpose into the work we do with clients: building trust and confidence in business and markets through leading audit quality, turning deep insights into strategic action, responsibly creating and protecting value, and delivering innovative solutions that drive economic growth.

Accelerating GenAI solutions and digital transformation: Deloitte practitioners bring together deep technical knowledge and business acumen to help enterprises integrate GenAI into their business strategies and drive substantial transformation within their organizations and industries. We are harnessing the potential of GenAI to drive tangible benefits and value creation for companies across industries, and helping to turn their ambitions into reality by scaling up GenAI deployments beyond pilots and proofs of concept. Deloitte’s GenAI incubator network, spanning three regions and eight countries, enables clients to experiment with GenAI tools—then develop, deploy, and scale GenAI solutions within their organizations. Over the past year, Deloitte has helped clients deliver more than 700 projects to provide process efficiency, cost reduction, elevated customer experience, and greater value in the form of new insights, faster innovation, and accelerated growth. To fuel this momentum, in our long-term plan we have aligned over US$3 billion of investments in GenAI globally through FY2030, on top of our $1 billion multi-year investment in AI-enabled delivery platforms, capabilities expansion, and capacity scaling for AI and data services in the past. Deloitte also employs its Trustworthy AITM framework to help manage GenAI-related risks.

We draw on our strong ecosystems and alliances and collaborations with many of the world’s leading technology providers to guide clients through this rapid pace of change. Deloitte was honored to be named Google Cloud Industry Solution Services Partner of the Year - Generative AI (2023) and AWS Global Data & Analytics Partner of the Year (2023), as a testament to our ability to build industry-leading solutions with AI at the center. We continue to strengthen our relationship with NVIDIA by shaping new market opportunities and developing innovative business models such as custom foundation models using NVIDIA's NIM Workflow Blueprints and are proud to be named NVIDIA Partner Network Global Consulting Partner of the Year for the fourth consecutive year. These relationships are vital to help address some of Deloitte clients’ and society’s most complex challenges. Deloitte’s GenAI incubator network works directly with Deloitte’s alliance and technology relationships including leading enterprise software, hardware, and cloud vendors.

Deloitte is also partnering with the International Olympic Committee (IOC) to bring its vast digital consulting experience to help facilitate the development of the Olympic AI Agenda. This will help guide the IOC and the Olympic Movement into a future where AI enhances many facets of human potential and democratizes sports.

Shaping sustainable growth: Sustainability challenges are urgent, defining topics for business leaders—and navigating this complex landscape requires sophisticated solutions. Deloitte Sustainability works with organizations across industries and regions to help drive meaningful advances in their climate-led transformations. We assist clients as they embed sustainability into their strategies and operations, develop new sustainable products and services, re-engineer their supply chains, finance their initiatives, consider tax implications, build resilience and cope with climate change, measure and report on their progress, and manage evolving sustainability regulation requirements.

Through our ecosystems and alliances relationships, we work with the world’s leading technology organizations to help our clients achieve regulatory compliance, unlock data driven insights, strengthen their decarbonization strategies and prioritize sustainability investments. Technology innovation is at the heart of our business, and we have developed several solutions to help solve our clients most pressing sustainability needs. From proprietary technologies that help organizations navigate sustainability requirements around the world, such as the European Union’s Corporate Sustainability Reporting Directive (CSRD), to applying geospatial technologies that address on-the-ground challenges, while developing new business applications across multiple industries.

In recognition, Deloitte has been named a leader in the Verdantix ESG & Sustainability Consulting Green Quadrant 2024.

Embedding continuous advantage: Deloitte practitioners work with organizations to design, build, and manage their critical business functions through Deloitte’s Operate services and global delivery center network. Through Deloitte’s deep industry knowledge, leading-edge technology, automation, and data insights, we help clients increase operational efficiency and agility, add value, and embed continuous advantage into their operations.

Over the past year, Deloitte continued to expand its Operate services with new industry-specific solutions. For example, Operate’s Future of Travel service is designed to make travel more seamless and secure by modernizing the enterprise systems and operational processes that facilitate travel with digital issuance and arrival solutions—unlocking a future where passengers can secure necessary travel documents and complete their journeys more swiftly and smoothly. The Software-Defined Vehicles end-to-end platform helps manufacturers to send secure updates, accelerate time to market, and integrate third-party applications, while reducing manual inputs. Operate teams are also incorporating new and emerging industry disruptions, such as GenAI. Deloitte’s AI Factory as a Service helps enterprises unlock value from this new technology in a rapid, scaled, and cost-effective manner across multiple industries and businesses. The service provides immediate access to dynamic high-compute infrastructure, AI software, third-party data, and hard-to-source skills and experience to help clients ideate, develop, and run custom AI/GenAI use cases, workflows, and models to achieve business outcomes that matter.

Deloitte was recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Finance & Accounting Business Process Outsourcing.

Helping organizations navigate change and complexity

Deloitte is modernizing and simplifying its storefront and go-to market strategy. Over the course of FY2025, we are aligning our capabilities into the following business units: Audit & Assurance, Tax & Legal, and two units housing our Consulting services: Strategy, Risk & Transactions and Technology & Transformation. This modernization better aligns our market-leading multidisciplinary capabilities with the most important strategic issues our clients are facing. We expect this will enhance our ability to provide integrated solutions that address our clients’ emerging issues, and help us deliver the highest quality services to all of our stakeholders.

Our FY2024 results are presented in accordance with our prior business unit structure. For FY2024, Tax & Legal revenue grew fastest among Deloitte’s businesses at 8.7% in local currency, followed by Audit & Assurance, which grew 4.1%. Among the regions, EMEA grew the fastest at 8.5%, followed by the Americas at 1.4%. For the third consecutive year, Deloitte received the highest possible rating, an Overall Strong, from Gartner in its 2024 vendor rating report.

• Audit & Assurance: As a leader in quality, Deloitte Audit & Assurance (A&A) is committed to building trust and confidence in corporate reporting ecosystems—upholding integrity, independence, and transparency across 180,000+ engagements worldwide over the past year. A&A has made significant progress in transforming how we deliver our services to further enhance audit quality through our innovative platforms, Deloitte Omnia and Deloitte Levvia, including developing additional Gen AI-enabled capabilities and solutions. As entities embrace the need to communicate beyond traditional financial reporting, Deloitte continues to provide assurance in emerging areas across accounting, controls, and corporate reporting, increasing transparency with stakeholders. Audit & Assurance revenue grew 4.1% in local currency.
• Consulting: Deloitte Consulting continued to invest in advanced technologies and industry insights, enabling practitioners to create value for many of the world’s most important public and private organizations. Drawing on the transformative power of GenAI and the breadth of our multidisciplinary capabilities, we brought innovative ideas and tailored solutions, helping clients identify and address their most complex business challenges and navigate the future. We launched Deloitte Ascend^TM, a leading-edge digital delivery platform, to provide our talent and clients with best-in-class digital resources and real-time data. Deloitte was ranked the number one consulting service provider worldwide by revenue, for the seventh consecutive year, in the Gartner Market Share report. Consulting revenue grew 1.9% in local currency.
• Financial Advisory: Deloitte Financial Advisory practitioners helped create and preserve value for over 20,000 clients, acting as trusted C-Suite and board advisors in a complex and constantly changing environment. Our end-to-end M&A practices advised companies on growth strategies, driving transformation, and developing new and deeper capabilities in sustainability and AI. Our Forensic and Discovery specialists worked with public and private sector organizations to help them address global financial crime, navigate fraud, waste, and abuse, and manage large scale litigations and regulatory responses with proprietary AI solutions. Our Infrastructure and Economic Advisory practices provided insights and impartial economic analysis and research; quantified economic and social impacts of net zero targets and iconic global sporting events; supported decisions to deliver social and economic objectives; and developed the first-of-its-kind clean hydrogen energy model, which will be instrumental as countries continue to transition energy sources. Financial Advisory revenue declined 3.8% in local currency.
• Risk Advisory: Combining our expertise in risk consulting with the latest technologies and tailored strategies in disciplines such as cyber, sustainability, regulation, compliance, and enterprise controls, Deloitte practitioners enabled organizations to be resilient amidst crises and market complexities. Through our updated global cyber strategy, Deloitte has formed strategic relationships with top technology providers, including the introduction of ConvergeSECURITY in collaboration with AWS; and the introduction of the CyberSphere offering with NVIDIA Morpheus, all aimed at delivering enhanced value to Deloitte clients. We continued to grow our Financial Crime Operate capabilities, helping clients solve complex challenges in areas such as financial and insurance related fraud. As organizations increase technology adoption, Deloitte helped clients re-imagine the evolution of enterprise controls and effectively respond to a rapidly changing environment. Deloitte ranked no. 1 in the Gartner Market Share Analysis: Security Services, Worldwide, 2023. Risk Advisory revenue grew 3.2% in local currency.
• Tax & Legal: The rapid emergence of GenAI and the implementation of the OECD’s two-pillar approach to tax challenges catapulted tax up the corporate board agenda, and Deloitte’s services and technology tools are helping clients with impact assessment and response, compliance, and reporting, as well as automating processes, expediting response times, and enhancing accuracy. Through our comprehensive Operate services, including implementation and outsourcing, we are helping clients meet their compliance obligations and improve operational efficiency. We are continuing to innovate with our Intela tax technology platform, which is an integrated tech ecosystem for tax work planning, management, data collection, analysis, and transformation. Deloitte Legal practitioners continue to guide businesses in integrating legal considerations into core business operations—enhancing the accuracy and speed of processes, realizing efficiencies, mitigating legal risk, and uncovering new insights using advanced analytics. Tax & Legal revenue grew 8.7% in local currency.

Leading with purpose, making an impact that matters across our global society

In the face of pressing societal challenges—from education and health equity to diversity and inclusion at work—Deloitte is working to advance progress across our global society. Through the services Deloitte people provide, our investments, and our portfolio of initiatives focused on creating educational and skills-building opportunities, we are helping to create a more equitable future.

• Making progress on our climate commitments: Addressing climate risk is crucial to the success of our business, our clients, and society as a whole. We are committed to reducing our greenhouse gas (GHG) emissions and supporting our clients in doing the same. In FY2024 we focused on developing our long-term, science-based, net-zero targets and climate transition plan. Our emissions reduction targets call for a fundamental transformation within our business operations. That’s why we are implementing policies and programs to accelerate decarbonization, particularly in our highest emitting areas — travel, technology, and real estate. Recognizing that the majority of our emissions originate from our supply chain, we are collaborating closely with our suppliers to set science-based targets, implement emissions reductions, and enhance product-level emissions reporting.
• Impacting 100 million futures: Our WorldClass ambition is to positively impact 100 million futures by 2030 through programs and collaborations with leading educational organizations, non-profits, clients, and innovators. With Deloitte donating funds, and our people volunteering their time and abilities, our efforts have provided support to millions of students, teachers, and education leaders worldwide. We have impacted 81 million individuals since 2017, including 24 million during FY2024. For example, Deloitte India has been supporting Mantra Social Services to bolster the skills of state education leaders and teachers across the country, impacting over two million students this year. See stories from young people from around the world, supported by our programs.
• Enabling a better world through sport with the IOC and IPC: During the past year, we furthered our “partnership with purpose” with the IOC and the International Paralympic Committee (IPC) by applying Deloitte’s deep management and business consulting acumen to help the IOC realize the possibilities of its Olympic Agenda 2020+5 as well as support initiatives related to sustainability and athlete career transition and well-being. In August 2024, Deloitte and the IOC announced an expansion of their Worldwide Olympic Partnership.
• Advancing health equity around the world: The Deloitte Health Equity Institutes (DHEIs) bring business, government, and community leaders together to help advance health equity. Each of the DHEIs drives an array of cross-sector collaborations, philanthropic investments, and research activities focused on the unique health challenges in their respective regions. For instance, in Spanish Latin America (S-LATAM), the S-LATAM DHEI is engaged in collaborative efforts to help improve access to timely diagnosis and treatment of breast and cervical cancer in Peru and Mexico. And the Europe DHEI published a landmark report, in collaboration with Mind and Place2Be, on the cost of mental health as well as the impact that children’s mental health has on parents and productivity.

Supporting our people

Deloitte is focused on supporting the professional and personal growth of our 460,000 people around the world—from the meaningful and challenging work we provide, to the world-class learning and development we offer, to our inclusive culture where all our people can thrive throughout their career journeys.

• Developing lifelong learners: In FY2024, our Learning & Development direct investment totaled more than $647 million globally. We develop our people throughout their careers, with a focus on accelerating agility and leadership skills and strengthening capabilities around critical challenges facing Deloitte clients and our global society. We also deliver tech-focused reskilling in response to the rapid pace of innovation. This includes hot skills training around AI, cloud, and cyber, as well as “hire to train” programs, which help enable Deloitte to diversify our recruiting pipeline and where future Deloitte people have the opportunity to gain the credentials and on-the-job experience they need to help them succeed in future roles. In FY2024, we delivered over 21 million formal training hours for our people. Our deep learning and development offerings include programs at Deloitte University (DU), as well as virtual and on-demand learning. Over the past year, we continued to expand DU’s global footprint with the opening of DU Europe, Middle East, and Africa (EMEA), a leading-edge facility located just outside Paris, France.
• Fostering an inclusive culture and diverse workforce: Deloitte’s global diversity, equity, and inclusion (DEI) strategy is founded on six core pillars—disability inclusion; LGBT+ inclusion; mental health; neurodiversity; race, ethnicity, and indigenous communities; and women’s equity—underpinned by a focus on a respectful and inclusive culture. Deloitte firms focus their DEI efforts around these pillars, alongside any specific DEI priorities relevant to their local communities. We strive to bring our purpose to life for our people by helping enable them maximize the contributions they make to Deloitte clients and the communities in which they live, and we have been recognized for bringing these commitments to life around the world. Deloitte was named among the World’s Best Workplaces in 2023 by Great Place To Work®, ranking No. 6, named an Ambassador for the 2023 Workplace Pride Impact Award, and named a 2023 Global Equality Champion for Open For Business, among many other honors received around the world.

Note: Deloitte’s 2024 Global Impact Report will be released later this year.

Gartner, Magic Quadrant for Finance and Accounting Business Process Outsourcing, May 2024
Gartner, Vendor Rating: Deloitte, May 2024
Gartner, Market Share Analysis: Consulting Services, Worldwide, 2023, June 2024
Gartner, Market Share Analysis: Security Services, Worldwide, 2023, July 2024
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