Capgemini reports 10.9% YoY revenue growth in Q1

French IT consulting group Capgemini on Thursday reported a weaker revenue growth in the first quarter of 2023 ended in March over the same period of last year amidst a challenging economic environment with delayed spending across clients.

The company’s revenue reached 5.73 billion euros ($6.35 billion) over the period, 10.9% above the first three months in 2022. During the same quarter last year, the company had posted 21% revenue growth over the year. For the full year 2023, the company guided for 4-7% revenue growth in constant currency, similar to the guidance shared by Infosys. Operating margin is expected to range between 13-13.2%.