Deloitte Hits $50 Billion In Global Revenue

Deloitte, a Big Four international accounting and consulting firm, announced in its FY2021 revenue report an aggregate global revenue of $50.2 billion for the fiscal year ending May 2021, sporting a 5.5% increase over the previous year and an all-time revenue high.

The firm’s consulting division brought in a significant amount of revenue ($20 billion) relative to its audit & assurance and tax & legal divisions ($10.5 billion and $8.9 billion, respectively) in spite of showing some of the slowest growth, with Deloitte’s Financial Advisory arm showing the strongest performance of the company’s business offerings.

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Business in North America contributed more than $24 billion in revenue, along with $16.7 billion coming from business in Europe, the Middle East, and Africa. However, the firm’s Asia Pacific business was at the forefront of driving revenue growth, with business increasing 14% up to $8.5 billion.

Deloitte Global CEO Punit Renjen stated, “Events of this past year have had an unprecedented impact on the world and our organization. From the COVID-19 pandemic to more frequent, extreme climate events, and social upheavals, we are grateful that we’ve been able to continue to help clients and support our people as we all navigate through this challenging environment.”

The company’s recent partnerships with governments around the world to support public health responses to the ongoing COVID-19 pandemic have shown significant growth as well. Deloitte’s revenue from its government & public sector practice grew by $3 billion in just two years, exceeding its resources & technology and telecom & media businesses.

By committing to leveraging investments in technology that help people stay connected, expanding relationships, investing further in innovation, and serving the public interest, the firm appears to have continued its growth and success in spite of the major difficulties businesses all over the world have faced for nearly two years.

The FY2021 revenue report continues Deloitte’s streak of dominating the Big Four since 2016, with PricewaterhouseCooper and KPMG yet to report on FY2021 revenue and Ernst & Young reporting $39.96 billion for the fiscal year ending on June 30th. While all of the firms have reported solid growth in spite of the circumstances, Deloitte continues to lead in revenue by a significant margin.